I markets in Asia the streak continues, the yuan strengthens to a new high
The good closure of Wall Street and a reduction in short rates in China comforted equity markets in Asia. And it helped too new record depreciation of the yen, which topped 105 during the session for the first time since 2008. The MSCI Asia Pacific regional index is gaining another 0,3% and is heading to close the week up more than 1%.
In America, new unemployment benefits have fallen more than estimated and expectations for further steps forward in 'tapering' are strengthening. In Japan, quantitative monetary expansion (QE), at 7 trillion yen per month ($66,8 billion) is even more pronounced (relative to the size of the economy) than in the US and is expected to continue as the effects on inflation are being felt: we are at a 1% increase for the year, compared to a 2% target, and Japan has left deflation behind. The fact that Japanese QE continues and US QE decreases leads to a weakening of the yen.
La chinese coin, on the other hand, strengthened and set a new twenty-year record, at 6,069 against the dollar. The euro gains, to 1,374 and gold marks 1210 $/ounce. Raw materials are strengthening and oil takes another small step towards the 100 level: WTI reaches 99,55 at mid-day (Brent: 111,7 $/b).
http://www.bloomberg.com/news/2013-12-26/australia-stocks-rise-with-oil-as-yen-set-for-weekly-loss.html
