Here's what you missed last night

Wall Street up, Singapore should open strong.

Singapore Markets Morning Briefing - what you need to know for Wed Jan 11, 2012.

- OCBC Investment Research noted continued gains on Wall Street should put a positive spin on the local bourse this morning.

But with the index already up 1.1% yesterday, further gains may slow, especially ahead of likely tough hurdle around 2733 region (early Jan intraday high, also near 50-day & 100-day moving averages).

On the downside, 2700 remains the key support; the STI still needs to demonstrate its ability to sustain above this level before the broader market confidence returns.

Expectations for monetary easing in China and a stronger Euro boosted US equities and other dollar-denominated commodities with the financial and materials sectors performing the best. Advancers beat out decliners more than three to one on the NYSE with 840m shares exchanging hands.

- Kathy Lien, Director of Currency research for GFT, noted USD/JPY continues to maintain its usual grind by trading in a very tight range. EU Commissioner Rehn was on the wires earlier this morning saying that Eurobonds could rival U.S. Treasuries as a safe haven. Although the introduction of Eurobonds could provide a strong solution for the region, it has very little support by key players.

With very little on the docket for the rest of the day, short EUR/USD positions could be squeezed further as long as U.S. equities maintain their gains. Federal Reserve Presidents Williams, Pianalto and George are scheduled to speak later today on the economy and they are expected to acknowledge the recent improvements in data but keep the door for further easing.