Asia Morning: The Santa rally continues….slowly


The few markets that were open on Boxing Day in Asia remained in buoyant mood, extending the theme from before Christmas. US index futures advanced between 0.10% and 0.13%, mostly recouping all of the December 24 losses. The Japan225 index outperformed with gains of 0.36%. China shares were also positive, basking in the aftermath of a rollback of at least some of the import tariffs, rising 0.17% on the day.

In the currency markets, a mild risk-on theme though volumes were extremely light due to the holidays. AUD/USD rose 0.06% to 0.6928, consolidating its push above the 200-day moving average at 0.6903 this week. The Japanese yen was marginally lower, with USD/JPY up 0.13% and AUD/JPY gaining 0.24%.


AUD/USD Daily Chart

Source: OANDA fxTrade


A minor data day

As you might expect, the data calendar for today is rather sparse, with Singapore’s industrial production for November the possible highlight. That’s expected to rise 1.1% m/m following October’s 3.4% gain. Japan’ housing starts for November are also due, but will probably be ignored.

A holiday in Canada means that the North American calendar is restricted to the US weekly jobless claims (224,000 versus 234,000 last week).


The full MarketPulse data calendar can be viewed at


Wishing all a (continued) Merry Christmas.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Andrew Robinson

Andrew Robinson

Senior Market Analyst at MarketPulse
A seasoned professional with more than 30 years’ experience in foreign exchange, interest rates and commodities, Andrew Robinson is a senior market analyst with OANDA, responsible for providing timely and relevant market commentary and live market analysis throughout the Asia-Pacific region. Having previously worked in Europe, since moving to Singapore he worked with several leading institutions including Bloomberg, Saxo Capital Markets and Informa Global Markets, proving FX strategies based on a combination of technical and fundamental analysis as well as market flow information. Andrew began his career as an FX dealer with NatWest and the Royal Bank of Scotland in the UK.
Andrew Robinson

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