Monday, December 28, 2009

Japan, Asian Markets, Euro

Nikkei rises to 4month highs on factory output data. Chinese Premier's made positive sentiment comments about the Chinese economy and probability of a recovery. Chinese Central Bank Adviser Fan Gang said there's no need for the Yuan to fall. "Even in a long-term view, the yuan has no reason to fall against the U.S. dollar, euro, yen or any other currency", Fan Gang said. Fan stated China's low inflation, low government debt level and rising productivity as reasons for yuan strength. The Euro extended gains against the dollar in choppy trading. Economics and Business Research (CEBR)has warned the Pound could soon be worth less than euro. This weeks economic data is very light but jobless claims on Thursday for USD will be of major focus.

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