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Currency Thoughts:
Blue Moon Dollar
On the final day of the decade, the dollar has fittingly faded, losing 0.8% against the Canadian dollar, 0.7% each against sterling, the Aussie dollar, New Zealand dollar and Swiss franc, and 0.5% relative to the euro, says Larry Greenberg of CurrencyThoughts.com. Catch Larry, and TheLFB trade team on ForexTV Live.
Market sentiment had turned pro-dollar lately. The yen is also comparatively soft, edging just 0.1% higher against the greenback. Many centers were closed, including Japan and Germany. Most other will experience abbreviated sessions.
How weird is this? The year and decade are ending with the first “blue moon” since June 2007, plus a partial eclipse of the moon in Europe, Africa, and Asia.
Stocks rose 1.8% in Hong Kong, 0.9% in Taiwan, 0.8% in Australia, 0.7% in India, and 0.6% in Singapore. The Ftse and Paris Cac have edged up 0.1% and 0.2%.
Gold rallied 1.1% to $1104.70 per ounce, up 25.2% from end-2008. Oil advanced 0.6% to $79.79 per barrel, 79% greater than a year ago and 125% higher than in mid-January 2009.
Australian private credit firmed 0.1% and 0.8% from a year earlier in November, matching expectations. Mortgage credit rose 0.7% on the month (8.1% on year), but credit to corporations fell by 1.0% and 8.2% from November 2008. Australian stocks ended 2009 up 31%. Full Article...