Currency Updates:
U.S. Dollar Trading (USD) small gains into the weekend did not translate into USD weakness with the EUR/USD still struggling to rally and keeping most other majors contained. November Durable Goods Orders at 3.8% vs. 0.0% previously and 2.0% forecast. In US stocks, DJIA +124 points closing at 12294, S&P +11 points closing at 1265 and NASDAQ +19 points closing at 2618. Looking ahead, Bank Holiday.
The Euro (EUR) quiet markets and light volumes saw the EUR/USD struggling to move higher with stocks. There was little new negative news but traders were hesitant to hold long Euros over the extended Christmas and New Year break. Looking ahead, Bank Holiday.
The Japanese Yen (JPY) USD/JPY pushed higher towards Y78.30 the last resistance of the range before pulling back to the more comfortable Y78 level. Crosses were likewise in a small rally in Europe and then pulled back to opening levels in the US session. Looking ahead, Japanese stocks are open and up 1.2% at 2GMT.
The Sterling (GBP) came under pressure in the US session and gave up most of the week’s gains falling from 1.5700 to 1.5600 on the major. Crosses also gave up gains with EUR/GBP bouncing after heavy selling in the past two weeks. Look ahead, Bank Holiday.
The Australian Dollar (AUD) stayed in 50 pip range from 1.0125 to 1.0175 and closed right in the middle with little interest to move higher into the Christmas weekend but supported on the downside from strong stocks. Looking ahead, Bank holiday Monday.
Oil & Gold (XAU) a very quiet trading day for the precious metal in a $15 range from $1600 to $1615. Crude Oil had a look above $100 a barrel but closed just under the figure in quiet but bullish trade. Looking ahead, Both Gold and Commodities Closed on Monday.
