Forex: Asia wrap-up

 @ibtimes on December 24 2009 12:39 AM

FXstreet.com (London) - Asia stock markets will likely close with modest gains, as investors appear to be picking up Eastern stocks, and setting their stalls ahead of the New Year.

Dow Jones futures were up, which is usually a cue for London open to start with gains.

Gold moved upwards still trying to test that crucial $1100 resistance level. Investors seem to be buying gold in light of the weaker-than-expected new home sales, and general inflationary and crisis fears.

EUR has rebounded from lows pushing up on a weak dollar, but slowed during the Asian session, as investors wound down. Eurozone fears over sovereign debt are still at the forefront of investor concerns and will limit any significant upside for the Euro.

Just four trading days remain of 2009, volumes will remain thin until January, but wide spreads could mean some volatility next week is possible.

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