World Headlines 2010-12-22

RQ Cross Box: 2010-12-22

Updated 7:00 est - EQUITIES - In Asia markets closed lower in subdued trading, with Japan held back by weaker-than-expected exports data, while bank stocks in China were hit by concerns about a further tightening of monetary policy. The Santa Claus rally has helped push The Dow Jones Industrial Average to its highest level in more than two years on Tuesday, led by the financial sector. COMMODITIES - Corn rose to a six-week high in Chicago trading on concern that dry weather in South America may hurt crops. Crude Oil is trading higher for a fourth day, advancing past $90 a barrel on signs that economic recovery in the U.S. may be eroding excess inventories. CURRENCIES - The British Pound fell against 11 of it's 16 counterparts after UK GDP data disappointed forecast. Japan’s government is estimating growth will slow in 2011 as the yen’s 11 percent surge against the dollar this year threatens their economic recovery. High beta currencies consolidating in overnight sessions as traders attention turns to key US economic data to be released this morning. ECONOMIC DATA - US GDP due at 8:30, Existing Home Sales at 10:00 and Crude Inventories at 10:00 est.

World Headlines 2010-12-22

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