EUR/USD: $1.2300(E351mn), $1.2320(E743mn)

USD/JPY: Y120.00($4.5bn), Y121.00($1.6bn)

USD/CAD: C$1.1490($550mn), C$1.1500($1.8bn)

EUR/USD: $1.2300(E351mn), $1.2320(E743mn)

USD/JPY: Y120.00($4.5bn), Y121.00($1.6bn)

USD/CAD: C$1.1490($550mn), C$1.1500($1.8bn)

REUTERS

Ruble weakens on S&P warning of downgrading Russia

(Reuters) - The ruble weakened in early trade on Wednesday, giving up its slight gains seen at opening, after Standard and Poor's rating agency warned it could downgrade Russia's rating to speculative in January.

At 0725 GMT, the rouble was 0.7 percent weaker against the dollar at 54.88 after opening 0.7 percent up. It lost 0.8 percent versus the euro to 67.00.

Late on Tuesday, S&P revised Russia's credit ratings to creditwatch negative from negative, warning the country's monetary flexibility deterioration could lead to putting its sovereign rating into junk territory as soon as mid-January.

Source: http://www.reuters.com/article/2014/12/24/us-russia-crisis-markets-rouble-idUSKBN0K20EG20141224

BLOOMBERG

PBOC Uses Hidden Hand as China Seeks to Stem Slowdown: Economy

The People's Bank of China is turning to a hidden hand as it seeks to stimulate the world's second-largest economy without worsening debt risks.

Contrary to the Federal Reserve's forward guidance, the Bank of England's increased transparency and a Group of 20 Nations vow to clearly communicate policies, China has added liquidity by stealth at least four times in the past four months. One proxy it has been using is China Development Bank Corp., the nation's biggest policy lender.

Source: http://www.bloomberg.com/news/2014-12-23/pboc-turns-to-hidden-hand-as-china-seeks-to-stem-growth-slowdown.html

BLOOMBERG

Libyan Islamists Pushed Back From Attack on Oil Ports

The force defending oil ports in eastern Libya pushed back an onslaught that Islamist militias had started 11 days ago to capture the facilities.

"We pushed them back and it's we who are now attacking them," Ali al-Hasy, a spokesman of the Petroleum Facilities Guard, said by phone from Es Sider, Libya's largest oil port. "The oil ports are safe and they suffered no damage. All the fighting took place well outside the ports."

The Tripoli-based Libyan News Agency yesterday reported the death of Tareq Shnena, the commander of the Islamist force tasked with capturing the eastern oil ports. He succumbed to wounds sustained in the fighting near Es Sider, it said, without saying where it got the information.

Source: http://www.bloomberg.com/news/2014-12-23/libyan-islamists-pushed-back-from-attack-on-eastern-oil-ports.html

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

08:00 Switzerland KOF Leading Indicator December 98.7 99.2

09:00 Germany Bank Holiday

The greenback traded weaker to mixed against its major peers in Asian trade. Yesterday a set of key economic data was published and supported the currency. Revised data showed that the U.S. economy grew at annualized 5.0% in the third quarter, the most in 11 years. After yesterday's gains the greenback stabilized against the euro and the British pound. Today investors await data on the U.S. Initial Jobless Claims being published at 13:30 GMT to get further indications on when the FED will hike interest rates next year.

The Australian dollar recouped some of its losses. The Conference Board Australia Leading Index for October improved from a previous reading of -0.3% to -0.2% this month.

New Zealand's dollar gained in Asian session for the first time in 3 days recouping some of its recent losses.

The Japanese yen traded higher against the U.S dollar for the first time in 6 days on speculations that recent declines were exaggerated. Today at 23:50 GMT the Monetary Policy Meeting Minutes will be published.

EUR/USD: the euro added small gains against the greenback

USD/JPY: the U.S. dollar traded weaker against the yen

GPB/USD: The British pound lost against the U.S. dollar

The most important news that are expected (GMT0):

(time / country / index / period / previous value / forecast)

13:30 U.S. Initial Jobless Claims December 289 291

15:30 U.S. Crude Oil Inventories December -0.8

23:50 Japan Monetary Policy Meeting Minutes

EUR / USD

Resistance levels (open interest**, contracts)

$1.2291 (439)

$1.2258 (364)

$1.2234 (220)

Price at time of writing this review: $ 1.2176

Support levels (open interest**, contracts):

$1.2149 (3506)

$1.2117 (2897)

$1.2094 (6099)

Comments:

- Overall open interest on the CALL options with the expiration date January, 9 is 55122 contracts, with the maximum number of contracts with strike price $1,2500 (6357);

- Overall open interest on the PUT options with the expiration date January, 9 is 61051 contracts, with the maximum number of contracts with strike price $1,2000 (6948);

- The ratio of PUT/CALL was 1.11 versus 1.09 from the previous trading day according to data from December, 23

GBP/USD

Resistance levels (open interest**, contracts)

$1.5801 (2070)

$1.5702 (2565)

$1.5605 (968)

Price at time of writing this review: $1.5519

Support levels (open interest**, contracts):

$1.5492 (1725)

$1.5395 (1152)

$1.5297 (1169)

Comments:

- Overall open interest on the CALL options with the expiration date January, 9 is 24490 contracts, with the maximum number of contracts with strike price $1,5850 (4015);

- Overall open interest on the PUT options with the expiration date January, 9 is 19907 contracts, with the maximum number of contracts with strike price $1,5450 (1967);

- The ratio of PUT/CALL was 0.81 versus 0.80 from the previous trading day according to data from December, 23

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

(pare/closed(GMT +2)/change, %)

EUR/USD $1,2172 -0,47%

GBP/USD $1,5518 -0,46%

USD/CHF Chf0,9876 +0,41%

USD/JPY Y120,68 +0,52%

EUR/JPY Y146,87 +0,05%

GBP/JPY Y187,28 +0,08%

AUD/USD $0,8102 -0,38%

NZD/USD $0,7707 -0,26%

USD/CAD C$1,1615 -0,09%

(time / country / index / period / previous value / forecast)

08:00 Switzerland KOF Leading Indicator December 98.7 99.2

09:00 Germany Bank Holiday

13:30 U.S. Initial Jobless Claims December 289 291

15:30 U.S. Crude Oil Inventories December -0.8

23:50 Japan Monetary Policy Meeting Minutes