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Currency Markets Stabilize
Contrarian Profits (December 22nd, 2008) Writes:
Currency markets stabilize (for now)… Data packed holiday shortened week… China cuts rates… Indian rupee falls… And Now… Today’s Pfennig!
Good day…The dollar settled in at the slightly higher levels it reached Friday morning and is trading in a narrow range heading into a holiday shortened week. Trade desks across the globe will be mostly staffed by the backups as the big bosses take Christmas week off. Volume will likely be lighter, which can sometimes lead to an increase in volatility.
The data calendar is empty today, but chock full tomorrow and Christmas eve. Markets will be closed on Christmas day, and most will be closed again on the day following Christmas (known as boxing day). GDP, Personal Consumption, U of Michigan consume
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