Themes

• General mood is “risk off”
• Most majors hold tightly within Friday’s ranges
• USD/CHF extends down slightly, Gold extends up slightly  

What’s Moving

A sense of déjà vu in Asian forex trading today, with wild swings seen in Friday U.S. session trade not backed up locally. Very light volume trade was noted with no fresh local data combining with the proximity to year end to combine to provide very right ranges on almost everything.

The only major currency that range extended today was the USD/CHF, which opened lower, but then proceeded to rise slightly to spend the rest of the day above New York lows.

Gold managed to extend higher slightly as stops were triggered in Hong Kong.

The European data calendar tonight is also light, with little more than German Factory Orders (E: -0.2%) slated for release. No data or speakers of note for the U.S. session at this time.