Back in action for the new year!

It’s the New Year and we’re already half-way into January. I’ve been MIA as I’ve been enjoying my break from the markets, but I’m back now so let’s see what economic news we got today!

We saw risk appetite weakening on Friday after the surprise 50 bp hike of China’s reserve ratio.

Fitch downgrade of Greece, but this play was more of a catch up, as Moody’s and S&P have already rated Greece as junk.

Aussie took a beating after China’s decision, and domestic news of the flooding situation did not help as well.

It looks like we don’t have any data coming out today, so keep a watch on trend plays once the Europe opens. The U.S is closed today because of Martin Luther King Day. So we may just see a quiet market later in the evening.