AUD, NZD, ES, NQ ... risk across the board has caught a bid in the Asian morning.
The moves can be, at least partially (if not mostly) to thinner than normal liquidity conditions as many players have packed up for the year. headline risk is high, moves can be further than what would nomnrally be the case.
We are in for choppy conditions through to January 3 (or even 4) during this holiday season.
NZD/USD the past few minutes as an example:
ps. I posted last week on this, BoA attempting to quantify the thin trading impact:
