Whats going in the market?

China’s Central Bank is likely to diversify its foreign exchange holdings of more than one tlr USD away from US dollar denominated instruments in favor of gold. This supported further dollar weakness through the Asian session.

AUD and NZD seeing significant sell-off against the JPY. A pick up in volatility should confirm this view medium term.

Strong week for equities, only Nikkei down on growth concerns. Still favor Media and Oil-related stocks. Miners took a big hit friday, so watch the commodities.