Currency Updates:
U.S. Dollar Trading (USD) with end of year trading leading to lower volumes the market stayed within defined ranges. Weekly Jobless Claims were strong at 420k vs. 421k previously and November House Starts jumped to 555k vs. 534k previously.   In US stocks, DJIA +41 points closing at 11499, S& P +7 points closing at 1242 and NASDAQ +20 points closing at 2637. Looking ahead, November Leading Indicators forecast at 1.1% vs. 0.5% previously.
The Euro (EUR) withlittle in the way of fresh news from the EU leaders meeting the market was hesitant to buy the single currency while the outlook remained so uncertain. Moody& rsquo s announced a review of Greece with a possible downgrade. December Eurozone PMI at 55 vs. 55.4. EUR/USD traded with a low of 1.3180 and a high of 1.3268 before closing at 1.3240. Looking ahead, German IFO Business Climate forecast at 109.1 vs. 109.3.
The Japanese Yen (JPY) found support under Y84 as the market consolidated the move higher. AUD/JPY and GBP/JPY were strong as sentiment improved in the US session. Overall the USDJPY traded with a low of 83.86 and a high of 84.47 before closing the day around 84.10 inthe New York session.
The Sterling (GBP) was very well supported after solid Retail Sales at 0.3% in November with upward revisions in October. EUR/GBP fell back from above 0.8500 level as the Euro remained out of favor. Overall the GBP/USD traded with a low of 1.5539 and a high of 1.5640 before closing the day at 1.5635 in the New York session.
The Australian Dollar (AUD) was volatile grinding higher throughout the day towards 0.9900 before falling sharply into the start of the US session finding support at 0.9830. AUD/JPY remained above Y83 as the market found constant demand. Overall the AUD/USD traded with a low of 0.9829 and a high of 0.9909 before closing the US session at 0.9895.
Oil & Gold (XAU) fell sharply down to $1360 as profit taking saw longs exit the market. Overall trading with a low of USD$1360 and high of USD $1387 before ending the New York session at USD$1370 an ounce. Oil fell below $88 on China tightening fears. WTI Oil Closed -$0.81 at $87.81 a barrel.
