//
He argued that trading would continue to be thin until the new year as traders sat back to assess how the market would play out over the course of December.
The expert pointed to low numbers of equities as confirmation of this and argued that tumbling retail sales and fears of a credit crunch might increase investors' inclination to play it safe.
Lack of swift action in the eurozone might worsen the situation, especially with gloomy growth expectations for next year.
"You just have to look at the performance of the euro this week to see that confidence is evaporating fast," added Mr McCudden.
The euro fell to $1.2965 yesterday (December 14th), which was noted by Reuters as its weakest performance against the American currency since January.
Posted by Clive Arneill
