Daily Trading Stance - Asia Jan 19 (Click link to view)


 EUR and risk saw some two-way action overnight but eventually bulls won. Negative factors included a 2-notch Italy downgrade by Fitch but news that the IMF was looking to boost it lending power by $500 bln took the limelight
 US data mixed – industrial production below consensus but the NAHB housing index had its best survey since June 2007, further indication that the US housing market may be bottoming out.
 Today’s main event for Asia will be the Oz employment report for December
 US session sees CPI, housing starts, weekly jobless claims, consumer comfort and economic expectations along with the Philly Fed survey