本周平静开盘。日本假日使得日元综合体交投量清淡。尽管中国仍面临流动性问题，但多数亚洲股市开盘上扬。隔夜，中国7天回购利率上扬至8.84%；而金融时报的报道称，由于受到压力，中国媒体对此事保持低调。

　　日元综合体周一交投清淡。美元兑日元仍维持103.93-104.15窄幅震荡。期权障碍在104.85-105.00区间内重新控制走势。鉴于美元多头热情有限，获利回吐实属意料之中。欧元兑日元开盘后小幅上扬，但走势势头由正转负，暗示即将出现更深的下行修正。少量阻力位见于142.42-50（30分钟日云顶）以及143.00以下。

　　欧元兑美元在亚洲市场开盘后被高价买入。美国GDP大大出乎意料地上扬后，该货币对恢复实力，脱离上周五的低价位（1.3625）；并在今天早些时候已反弹至1.3695。来自杠杆投资者的体面卖出价报于1.3700-10区间，而期权买入价偏向上行。欧元兑英镑本周一开盘就测试阻力位0.83800。分析12日和26日MACD指标后发现，卖出压力应该会在0.8345以下加强。

　　英镑的交易情绪依然混合。1.6300上方的买入兴趣仍然稳固，而限制上行空间的期权障碍分别为1.6400/50/80和1.6500。该货币对本周开盘后小幅上涨，随着欧洲市场的开盘，上涨了20个点。假日交投量很可能会让该货币对的走势继续维持不明朗状态。

　　受假日前空头回补的影响，澳元兑其十国集团对手货币的亏损额有所缩减。澳元兑美元部分缩减了上周的重大损失。适当的阻力位见于0.9000-10之前，尤其是在中国流动性问题继续深化的情况下。澳元兑纽元仍在1.0900水平处卖出，如能清除，则应该会引发更深的向上修正。鉴于该货币对在10月28日以来遭遇沉重抛售，修正很可能会提振该货币对上扬至1.1000，然后是1.1200（8月、9月以及10月的支撑位，现已转变为阻力位）。

　　另外，土耳其政治政治局势加剧，使土耳其里拉在年底前继续承受沉重的抛售压力。土耳其里拉兑美元和欧元在上周五均创下历史新低；交易情绪仍然消极。土耳其央行将于本周宣布其2014年货币政策前景。除了美联储决定所引发的资金外流外，在土耳其政治混乱的情况下，土耳其央行不加息的态度还能维持多久？

　　今天的经济日历包括：德国11月进口物价指数月率和年率、瑞士11月瑞士银行消耗指标和M3货币供应量年率、西班牙11月PPI月率和年率、意大利12月消费者信心指数、挪威10月AKU失业率、加拿大十10月GDP月率和年率、美国11月芝加哥联储全国活动指数、美国11月个人收入和支出、美国11月通缩个人消费支出和核心个人消费支出月率和年率、美国12月密歇根大学消费者信心指数（终值）。

　　The week started through a quiet trading session. Japan holiday kept the volumes light in JPY complex. Asian equities mostly opened the week in green despite the ongoing liquidity concerns in China. The Chinese 7-day repo rate advanced to 8.84% overnight; while the media is under pressure to keep the tone down, reports the Financial Times.

　　JPY complex traded light this Monday. USDJPY remained in the tight range of 103.93/104.15. Option barriers are back in charge at 104.85/105.00. Given the limited enthusiasm in USD-bulls, some profit taking wouldn’t be a surprise. EURJPY opened the week slightly upwards, yet the trend momentum turned negative calling for deeper downside correction. We see light resistance at 142.42/50 (30-min daily cloud top) then pre-143.00.

　　EURUSD opened well bid in Asia. The pair recovered from Friday lows (1.3625) after the US GDP greatly surprised on the upside; EURUSD rallied to 1.3695 earlier today. Decent offers from leveraged names are reported at 1.3700/10 area, while option bids are skewed on the upside. EURGBP started the week testing 0.83800-resistance. The selling pressure should intensify below 0.8345 according to MACD 12, 26 day analysis.

　　The sentiment in Cable remains mixed. Buying interest is still solid above 1.6300, while option barriers cap the upside at 1.6400/50/80 then 1.6500 levels. The pair opened the week slightly bullish, with a 20 pip rally as Europe walked in. The holiday volumes are likely to keep the direction unclear.

　　The Aussie pared losses against its G10 peers on pre-holiday short covering. AUDUSD partially pared last week’s heavy losses. Decent resistance is seen pre-0.9000/10, especially if liquidity concerns in China are to deepen. AUDNZD remains offered at 1.0900, if cleared should call for deeper upside correction. Given the heavy sell-off recorded since October 28th, a correction is likely to lift the pair to 1.1000, then 1.1200 (Aug, Sep and Oct support to turn resistance).

　　Else, the political tensions in Turkey intensify, keeping the TRY under heavy selling pressure before the year end. TRY hit the fresh historical lows against USD and EUR on Friday; the sentiment remain negative. The CBT will announce its 2014 monetary policy outlook this week. How long can the CBT hold without raising rates given the political chaos in the country in addition to outflows triggered by Fed decision?

　　Today, the economic calendar consists of German November Import Price Index m/m & y/y, Swiss November UBS Consumption Indicator and M3 Money Supply y/y, Spanish November PPI m/m & y/y, Italian December Consumer Confidence Index, Norwegian October Unemployment Rate AKU, Canadian October GDP m/m & y/y, US November Chicago Fed National Activity, US November Personal Income & Spending, US November PCE Deflation and Core m/m & y/y, US December (Final) University of Michigan Confidence Index.