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Japan will also apply to buy Chinese bonds next year, allowing the investment of renminbi that leaves China during the transactions, the Japanese government said in a statement after a meeting between Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao in Beijing yesterday. Encouraging direct yen- yuan settlement should reduce currency risks and trading costs, Japan’s government said.
Home prices in 20 U.S. cities probably declined at a slower pace and consumer confidence improved, signs the economy gained strength heading into 2012, economists said before reports this week.
Property values dropped 3.2 percent in October from the same month in 2010, the smallest year-over-year decrease since January, according to the median forecast of 20 economists before a Dec. 27 report from S&P/Case-Shiller. Consumer confidence rose to a five-month high in December and more people signed contracts to buy previously owned homes than a month earlier, other data may show.
EUR/USD: on Asian session the pair gain.
GBP/USD: on Asian session the pair gain.
USD/JPY: on Asian session the pair fell.
On Monday the share markets of the Europe and America will be closed in connection with celebrating of Christmas. At 23:50 GMT Japan will publish the Report of meeting of Bank of Japan concerning a credit policy.
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