Market news
27.12.2010, 09:04

Asian session:

05:00     Japan     Housing starts (November) Y/Y    6.8%    
05:00     Japan     Construction orders (November) Y/Y    -5.3%   

The yen earlier touched a three-week high against the euro as JPMorgan Chase & Co. and Morgan Stanley said China’s monetary tightening in 2011 may be mainly in the first half as officials tackle the fastest inflation in more than two years.
The People’s Bank of China increased key one-year lending and deposit rates by 25 basis points on Christmas Day in its second move since mid-October. The change took effect yesterday.
China may raise rates as many as three times in the first half of next year, according to Morgan Stanley, while JPMorgan forecasts two increases in that period.
The Conference Board’s U.S. consumer confidence index increased to 56.4 this month from 54.1 in November, according to the median estimate of economists before the data tomorrow.

EUR/USD: the pair shown high in the field of $1,3070 then grown in around  $1,3150.

GBP/USD: the pair bargained within the limits of $1,5400-$ 1,5460.

USD/JPY: the pair decreased in around Y82,70.

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