USD Trading Outlook (27-12-2012)

U.S. Dollar Trading (USD) the Dollar was supported Monday in holiday markets by continued stalling in the US fiscal cliff saga. The looming January 1stdeadline will keep the fiscal cliff in focus over the next few days and could lead to risk off selling if no deal is made. The Yen was the weakest currency in the markets with USD/JPY breaking above Y85 and holding onto these gains overnight. Looking ahead, Weekly Jobless Claims forecast at 360k vs. 361k previously. November New Home Sales forecast at 0.37m vs. 0.36m previously.

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