Currency Updates:
U.S. Dollar Trading (USD) both US stocks and the US Dollar where strong in New York today with some good economic data underpinning investor sentiment and new year beginning on a positive note. December Manufacturing PMI jumped to 57.0 as expected. In US stocks, DJIA +93 points closing at 11670, S& P +14 points closing at 1271 and NASDAQ +38 points closing at 2691. Looking Ahead, FOMC Minutes released from December Meeting.
The Euro (EUR) was under pressure in Asia but managed to claw back some losses against the dollar during the rest of the day with strong support from EUR/JPY and EUR/GBP buying. News that China will support Spanish debt going into the future also helped.   EUR/USD traded with a low of 1.3280 and a high of 1.3425 before closing at 1.3390. Looking ahead, December Inflation forecast at 2 vs. 1.9 previously y/y.
The Japanese Yen (JPY) was helped off multiple week lows under Y81 on strong US data. Resistance at Y81.80 held for now but most crosses are buoyant given the risk on mood.Overall the USDJPY traded with a low of 80.92 and a high of 81.77 before closing the day around 81.70 inthe New York session.
The Sterling (GBP) struggled in thin holiday markets from both a resurgent USD and strong EUR/GBP rally. Support was found at 1.5450 but the bounce was limited. Overall the GBP/USD traded with a low of 1.5431 and a high of 1.5579 before closing the day at 1.5480 in the New York session. Looking ahead, Mortgage Approvals are forecast at 46.9k vs. 47.19k previously.
The Australian Dollar (AUD) was subdued unable to hold onto the 1.0200 level as profit taking hit the pair after recent gains. The outlook is still positive for the heavily overbought currency with commodities continuing to push higher. Overall the AUD/USD traded with a low of 1.0154 and a high of 1.0250 before closing the US session at 1.0165.
Oil & Gold (XAU) Pivoted around the $1420 in quiet trade before ending on a weak note.Overall trading with a low of USD$1411 and high of USD $1424 before ending the New York session at USD$1415 an ounce. Oil extended gains to $92.50 before pulling back to opening levels. WTI Oil Closed +$0.30 at $91.70 a barrel.
