Asia Session – December 28, 2009 1:11 AM

The holiday shortened week in Asia began as could be expected, range bound and slow.  This weekend’s attempted terrorist attack had no effect on the markets as they opened in close proximity to Friday’s closing levels, and The Boxing Day holiday which saw Australia and New Zealand out helped add to the session’s sluggish pace. EUR/USD opened near the 1.4390 level, about 20 pips higher than Friday’s close, and after meandering in a 40 or so pip range, closed the day out at the same levels. Most other majors looked to close out the day at levels close to opening rates. AUD/USD was the lone exception as bidders took advantage of the thinned market and pushed the pair from 0.8830 to 0.8885 highs on the day. Gold also made a nice move higher, gaining almost in value to 13.00 highs on the day. Japanese Industrial Production and Retail Sales both came in slightly better than expected to little or no reaction from the yen. Full text »

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