Daily Trading Stance - Asia Jan 16 (Click link to view)


 S&P downgrades for Europe knocked a bullish-looking EUR lower on Friday. Rumours of the downgrade had been circulating during the European afternoon and the actual announcement knocked EUR to new 2012 lows.
 Cyprus, Italy, Portugal and Spain down 2 notches; Austria, France, Malta, Slovakia and Slovenia down 1 notch while Belgium, Estonia, Finland, Germany, Ireland and Luxembourg affirmed unchanged
 US data added to risk-off sentiment: US trade gap widens to $47 bln in Nov. but Mich. Confidence rallies to 7-mth high.
 US markets closed for martin Luther King Day today