FXstreet.com (London) - Market traded sideways excluding the pacifics today in Asian trade. Markets are becoming increasingly soft as December trade thins heading into the holiday and New Year.
The Nikkei will likely close with modest gains (+0.9%), as thinning trade effects stockmarkets and market player lock-in profits.
All eyes will be on US today, seeking further support to the idea of an economy on the mend. FED will like speak in a tempered tone, echoing their previous statements over the economy. European woes will not be forgotten though, as the market will also be looking carefully for further developments in the Eurozone, and as a result cautious trade is
London will likely take little cue from a flat Asian session and will likely trade softly ahead of the US open.
Oils leg up in the previous session has rested, consolidating around $72, while gold remains volatile amid inflation concerns and central bank reserve buying.