Market Recap – Merry Christmas

The Christmas holiday week has always been a week of decreased volume and thin liquidity. With the exception of last year, when markets bottomed on the 25th and then started their impressive rally, markets tend to range. Nevertheless, traders should be cautious. Under thin liquidity conditions, last year, on January 4, a trivial headline about the decreased revenues of Apple in China, was enough to trigger the JPY pairs flash crash.

Today, President Xi (China) meets Prime Minister Abe (Japan) and President Moon (South Korea) to talk on North Korea. Note that North Korea has set a year-end deadline for the USA to wave its implemented sanctions.

Macro releases: Today’s economic calendar includes the Canadian GDP reading and the US core durable goods orders m/m.


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