USD Dollar (USD)

The Dollar gained versus most majors as Industrial Production came out weaker, lowering risk appetite. Industrial Production came out 0.1% versus 0.4% expected. PPI came out weaker with 0.3% versus 0.6% forecast. TIC Long-Term Purchases came out better with 40.7B versus 27.3B expected. NASDAQ and Dow Jones rose slightly by 0.27% and 0.29%. Crude gained by 0.68% closing at 79.44$ a barrel and Gold (XAU) remained almost unchanged with 0.16% change closing at 1140.5$ an ounce. Today, Building Permits are expected higher with 0.59M versus 0.57M prior and Core CPI is expected with 0.1% versus 0.2% prior. Housing Starts are expected higher with 0.61M versus 0.59M and Crude Inventories are expected with 1.2M versus 1.8M prior.

EURO (EUR)

The Euro weakened versus the Dollar and the Pound as risk appetite weakened and ECB\’s president Trichet said a strong Dollar is important for the world economy. European Trade Balance came out better than expected with 6.8B versus -0.9B expected. EUR/USD traded with a low of 1.4806 and with a high of 1.4998. Today, European Current Account is expected with 0.6B versus -1.3B prior. ECB President Trichet will speak in Frankfurt.

British Pound (GBP)

The Pound remained almost unchanged versus the Dollar as CPI figures came out better than expected but Industrial Production in the U.S lowered investors Risk Appetite. CPI came out 1.5% versus 1.4% expected and RPI came out -0.8% versus -0.9% expected. Overall, GBP/USD traded with a low of 1.6755 and a high of 1.6872. Today, MPC Meeting Minutes will be released. CBI Industrial Order Expectations are expected with -47 versus -51 prior.

Japanese Yen (JPY)

The Yen gained versus the Euro and weakened versus the Dollar as risk appetite lowered after Industrial Production in the U.S came out weaker than expected. Overall, USD/JPY traded with a low of 88.73 and a high of 89.53 and EUR/JPY traded with a low of 132.44 and a high of 133.58. Today, All Industries Activity is expected with -0.1% versus 0.9% prior.

Canadian dollar (CAD)

The Canadian Dollar dropped as Risk Appetite weakened following U.S production data. Overall, USD/CAD traded with a low of 1.0464 and a high of 1.0617. Today, Canadian CPI is expected with 0.2% versus 0% prior and Core CPI is expected with 0% versus 0.3% prior.

The Dollar gained massively across the board on the day the Federal Reserve decided to leave rates as expected at 0.25%. The Dollar rose after the announcement and continued its gaining after Asia markets opened. Earlier, the Building Permits came out 0.58M better than expected 0.57M. CPI came out unchanged as expected at 0.4%. Wall Street finished mix after being unable to hold in the positive side. Stocks turned to the negative after the statement of the FED about monetary policy. The Dow Jones fell 0.10% and NASDAQ rose by 0.28%. Crude Oil kept gaining for the second day closing at 72.77$ a barrel after the oil inventories showed a 3.7M drop. Gold (XAU) gained also closing at 1137$ an ounce. Today, the Initial Jobless Claims expected at 470K vs. 474K previously. The Philadelphia Fed Manufacturing Index expected at 16 vs. 16.7 previously.

EURO (EUR)

The Euro fell against the Dollar and the Pound, breaking through the 1.4500 and 1.4400 support levels, after the CPI came out 0.5% worse than expected 0.6%. The breakdown of this level could bring the pair to fresh new lows. Manufacturing PMI came out 51.6 better than expected 51.5. Overall, EUR/USD traded with a low of 1.4379 and a high of 1.4590. Today, the Italian Unemployment Rate expected 7.7% vs. 7.4% previously.

British Pound (GBP)

The Cable was the best performer among majors. GBP/USD momentarily broke above 1.6370 and rose to 1.6404, reaching a one-week high but then pulled back, breaking below the 1.6300 support level, reaching lows of 1.6230. Claimant Count Change came out -6.3K better than the expected 14K. Overall, GBP/USD traded with a low of 1.6230 and a high of 1.6409. Today, the Retail Sales expected at 0.5% vs. 0.4% previously. The CBI DTS expected at 16 vs. 13 previously.

Japanese Yen (JPY)

The Yen fell against the Pound and the Dollar. The Dollar reached a one-week high against the Yen as the Federal Reserve said deterioration in the labor market is abating while it will keep its low rate for an extended period. Overall, USD/JPY traded with a low of 89.37 and a high of 89.96. Today, the interest rate decision of The Bank of Japan (BOJ) expected unchanged at 0.1%.

Canadian Dollar (CAD)

The Canadian currency gained as crude oil and stocks rose. It was little changed after policy makers in the nation and the U.S. made commitments to keep interest rates at historic lows. The Manufacturing Sales came out 2% better than expected 0.5%. Overall, USD/CAD traded with a low of 1.0570 and a high of 1.0641. Today, The Core CPI expected unchanged at 0.1%. The Foreign Securities Purchases expected at 10B vs. 13.59B previously.

USD Dollar (USD)

The Dollar gained versus 15 of the 16 majors as Industrial Production rose by 0.8% versus 0.6% expected signaling U.S economy is expanding. The FOMC is still expected to keep the Interest Rate today at 0.25% but more economists expect a rate increase to 0.5% until June 2010. PPI came out stronger with 1.8% versus 0.8% expected and TIC Long Term Purchases came out weaker with 20.7B versus 38.3B prior. NASDAQ and Dow Jones declined by -0.50% and -0.47% respectively as wholesale inflation raised concerns the Fed will be forced to raise interest rates. Crude gained by 0.17% closing at 70.81$ a barrel ending a 9 day declining streak. Gold (XAU) gained by 0.29% closing at 1125.70$ an ounce. Today, Building Permits are expected with 0.58M versus 0.55M prior. CPI is expected with 0.4% versus 0.3% prior and Core CPI is expected with 0.1% versus 0.2% prior. Investors are waiting for the FOMC Interest Rate decision that is expected to remain at 0.25%.

EURO (EUR)

The Euro fell versus the Dollar and the Pound after weaker French CPI results, which triggered the Euro\’s decline. German ZEW Economic Sentiment came out 50.4 slightly better than 50.1 expected but ZEW Economic Sentiment came out weaker with 48 versus 50.9 expected. More countries in the Euro zone show signs the recession is still alive. Greece is struggling with its debt and Austria nationalized Hypo Bank. Overall, EUR/USD traded with a low of 1.4503 and a high of 1.4659. Today, German and French Manufacturing PMI are expected slightly stronger. CPI and Core CPI are expected unchanged with 0.6% and 1.2% accordingly.

British Pound (GBP)

The Pound weakened versus the Dollar but gained versus the Euro after CPI came out 1.9% versus 1.8% expected. The CPI figures show inflation is advancing and the U.K won\’t be able to keep interest rates at their record lows. Overall, GBP/USD traded with a low of 1.6205 and a high of 1.6319. Today, Claimant Count Change is expected with 13.9K versus 12.9K and MPC Member Miles will speak in London.

Japanese Yen (JPY)

The Yen dropped versus the Dollar and the Euro as a near US interest rate increase seems likely in the upcoming year. Overall, USD/JPY traded with a low of 88.61 and a high of 89.95 and EUR/JPY traded with a low of 129.54 and a high of 130.73. No economic data expected today in Japan.

Canadian Dollar (CAD)

The Canadian Dollar followed the trend and fell against the Dollar but gained versus most other majors as Crude prices rose slightly ending its 9 day decline. Leading Index came out better with 1.3% versus 0.6% and Labor Productivity came out weaker with -0.2% versus -0.4% expected. Overall, USD/CAD traded with a low of 1.0552 and a high of 1.0611. Today, Manufacturing Sales is expected with 1% versus 1.4% prior.

USD Dollar (USD)

The Dollar weakened slightly versus the majors as the Dollar rally took a relief. NASDAQ and Dow Jones gained by 0.99% and 0.28% respectively as Dubai\’s bailout calmed investor fears. Crude weakened for the 9th straight day lowering by -0.43% closing at 69.57$ a barrel. Gold (XAU) gained by 0.54% closing at 1123.30$ an ounce. Today, PPI is expected with 0.8% versus 0.3% prior. Industrial Production is expected with 0.6% versus 0.1% prior. TIC Long Term Purchases is expected with 38.3B versus 40.7B prior.

EURO (EUR)

The Euro gained slightly versus the Dollar as Dubai World\’s bailout eased banks concerns of major write downs. Industrial Production came out as expected with -0.6%. Overall, EUR/USD traded with a low of 1.4607 and with a high of 1.4685. Today, German ZEW Economic Sentiment is expected weaker with 50.1 versus 51.1 prior.

British Pound (GBP)

The Pound gained slightly versus the Dollar but is still unable to break above or below the 1.6350 and 1.62 range. RICS House Price Balance came out weaker with 35% versus 39% forecast. Overall, GBP/USD traded with a low of 1.6188 and a high of 1.6324. Today, CPI is expected with 1.8% versus 1.5% prior.

Japanese Yen (JPY)

The Yen gained versus the Dollar and other majors after Tanken Manufacturing Index came out stronger than expected. The Yen is set to replace the Dollar in the Carry Trading as borrowing costs in Japan became almost as cheap as U.S loans. Overall, USD/JPY traded with a low of 88.32 and a high of 89.29 and EUR/JPY traded with a low of 129.18 and a high of 130.64. Today, Tertiary Industry Activity is expected with 0.5% versus -0.5% prior.

Canadian Dollar (CAD)

The Canadian Dollar remained unchanged versus the Dollar as no major news was released and Crude prices were merely changed. Overall, USD/CAD traded with a low of 1.0484 and a high of 1.0623. Today, Leading Index is expected with 0.6% versus 0.7% prior and Labor Productivity is expected with -0.4% versus 0.0% prior.

USD Dollar (USD)

The Dollar continued rallying versus most majors on Friday after Retail Sales and Michigan\’s Consumer Sentiment came out stronger than expected signaling economy is recovering improving Fed Rate Outlook. NASDAQ ended almost flat with -0.03% change and Dow Jones gained by 0.63%. Crude weakened by -1.39% dropping below 70$ for the first time since October closing at 69.87$ a barrel and Gold (XAU) dropped by -0.91% closing at 1114.55$ an ounce on a stronger Dollar. No economic data expected today.

EURO (EUR)

The Euro continued falling versus the Dollar reaching a 2 month low below the 1.46 support level as better economic data in the US led investors to expect a near rate increase. Ireland and Greece are facing major debt concerns that may lead to their exit from the Euro-Zone. Overall, EUR/USD traded with a low of 1.4586 and with a high of 1.4776. Today, Industrial Production is expected with -0.6% versus 0.3% prior.

British Pound (GBP)

The Pound dropped slightly versus the Dollar after PPI Input and Output came out weaker than the forecast. The UK budget deficit keeps growing as the government keeps spending money to spur the economy preventing the Pound from gaining back. Overall, GBP/USD traded with a low of 1.6196 and a high of 1.6338. Today, RICS House Price Balance is expected with 39% versus 34% prior.

Japanese Yen (JPY)

The Yen weakened versus the Dollar and the Euro as economic conditions improve and a future rate increase in the U.S seems more likely. Overall, USD/JPY traded with a low of 88.26 and a high of 89.81 and EUR/JPY traded with a low of 129.97 and a high of 131.59. No economic data expected today.

Canadian Dollar (CAD)

The Canadian Dollar weakened versus the Dollar as Crude dropped beneath 70$ a barrel on stronger Dollar sending the high yield commodity related Australian and Canadian Dollar lower. Overall, USD/CAD traded with a low of 1.0484 and a high of 1.0623. No major economic data expected today.

USD Dollar (USD)

The Dollar was mixed versus the majors after Inventories at U.S. wholesalers rose in October for the first time in more than a year, signaling companies are picking up the pace of orders as the economy shows signs of improvement. NASDAQ and Dow Jones strengthened by 0.5% respectively. Crude Oil fell by 2.7% after the report showed that Crude inventories fell by 3.8 million barrels and Crude price closed at 70.64$ a barrel after oil inventories showed a rise. Gold(XAU) fell by 2% closing at 1120.4$ an ounce. Today, Trade Balance is expected at -36.9B vs. -36.5B prior. Unemployment Claims is expected to rise from 457K to 463K. Federal Budget Balance is expected at -136B vs. -176.4B prior.

EURO (EUR)

The Euro gained slightly versus the Dollar after U.S. stocks rose modestly, reviving demand for higher-yielding assets. Overall, EUR/USD traded with a low of 1.4668 and with a high of 1.4782. Today, ECB Monthly Bulletin will be released and ECB President Trichet will speak at the University of Cambridge.

British Pound (GBP)

The Pound decreased versus the Dollar and Euro as the U.K.’s Treasury is expected to raise 550 million pounds targeting payouts at banks in the next few months and another 3 billion pounds from incomes earned after April 2011. Overall, GBP/USD traded with a low of 1.6167 and with a high of 1.6375. Today, MPC Rate Statement is expected to leave the Interest Rate unchanged at 0.5%. Asset Purchase Facility is expected to stay unchanged at 200B in case it will be higher the Pound is expected to drop.

Japanese Yen (JPY)

The Yen continued to strengthen versus the Dollar after Japanese stocks fell the most in 8 days. Core Machinery Orders came out as expected with -4.5%. Overall USD/JPY traded with a low of 87.36 and with a high of 88.7. No economic data expected today.

Canadian dollar (CAD)

The Canadian Dollar strengthened against the Dollar amid speculation that yesterday’s decline to the lowest level in almost two weeks went too far. Overall, USD/CAD traded with a low of 1.0514 and with a high of 1.0661. Today, Trade Balance is expected at -0.6B vs. -0.9B prior.

USD Dollar (USD)

The Dollar continued gaining versus most majors as investors turned to the Safe Haven of the Dollar as the global economy keeps struggling to end the recession. President Obama called for more federal spending to fight the unemployment. IBD/TIPP Economic Optimism was out weaker with 46.8 versus 49.5 expected. NASDAQ and Dow Jones dropped by -0.76% and -1.00% respectively as the Dollar strengthened. Crude weakened by -1.23% closing at 73.02$ a barrel and Gold (XAU) fell by -2.87% closing at 1130$ an ounce on a stronger Dollar. Today, Wholesale Inventories are expected with -0.6% versus -0.9% prior.

EURO (EUR)

The Euro continued falling versus the Dollar, breaking below the 1.48 support level. German Industrial Production came out weaker with -1.8% versus 1.1% expected and sent equity markets to declines. Overall, EUR/USD traded with a low of 1.4680 and with a high of 1.4867. French Non-Farm Payrolls will be released at night and are expected to remain with 0% change. ECB Monthly Report will also be released at night giving outlooks for various economic issues.

British Pound (GBP)

The Pound dropped versus the Dollar after Manufacturing Production came out short with 0% versus 0.5% expected. NIESR GDP Estimate came out 0.2% versus -0.4% prior. Overall, GBP/USD traded with a low of 1.6255 and a high of 1.6476. Today, Trade Balance is expected with -6.9B versus -7.2B prior.

Japanese Yen (JPY)

The Yen gained versus the Dollar and the Euro as risk appetite continued to wane and investors seek the safety of the Yen. Final GDP came out weaker with 0.3% versus 0.8% expected. Overall, USD/JPY traded with a low of 88.16 and a high of 89.51 and EUR/JPY traded with a low of 129.64 and a high of 132.71. Today, Core Machinery Orders are expected with -4.4% versus 10.5% prior.

Canadian Dollar (CAD)

The Canadian Dollar weakened versus the Dollar as Bank of Canada left the Interest Rate unchanged at 0.25% and Commodity prices continued to weaken lowering the high yielding currency\’s appeal. Housing Starts came out 159K as expected. Overall, USD/CAD traded with a low of 1.0485 and a high of 1.0670. No economic data expected today.

USD Dollar (USD)

The Dollar rallied versus all majors after Nonfarm Payrolls came out better than expected with -11K versus -119K expected and -111 K prior. The reverse correlation between U.S economic data and the Dollar prices seems to have ended. The U.S jobs market is improving and the Federal Reserve is expected to raise the rates if the improvement continues. Unemployment Rate came out 10% versus 10.2% expected and prior. NASDAQ and Dow Jones gained by 0.98% and 0.22% respectively after the better employment data. Crude weakened by -1.29% closing at 75.76$ a barrel and Gold (XAU) dropped by -3.99% closing at 1160.2$ an ounce on stronger Dollar and weaker inflation fears. Today, Federal Reserve Chairman Bernanke will speak in Washington. Consumer Credit is expected with -9.6B versus -14.8B prior.

EURO (EUR)

The Euro fell as the Dollar rallied after Nonfarm Payrolls data showed a massive improvement raising expectations for a rate increase in the Dollar, lowering the demand for the Euro. Overall, EUR/USD traded with a low of 1.4821 and with a high of 1.5090. Today, German Factory Orders are expected with 0.6% versus 0.9% prior. ECB President Trichet will speak in Brussels.

British Pound (GBP)

The Pound slid versus the Dollar after the better than expected employment data in the U.S raised expectation for a future rate increase in the Dollar. Overall, GBP/USD traded with a low of 1.6422 and a high of 1.6673. Today, Halifax House Price Index is expected with 40.50 versus 40.90 prior.

Japanese Yen (JPY)

The Yen plunged versus the Dollar and the Euro after better than expected U.S employment data led to less demand for the Yen as a Safe Haven as economic conditions improved. Overall, USD/JPY traded with a low of 87.99 and a high of 90.76 and EUR/JPY traded with a low of 132.49 and a high of 134.56. Today, Japanese Current Account is expected with 1.6T versus 1.34T prior. M2 Money Stock is expected with 3.5% versus 3.3% prior.

Canadian Dollar (CAD)

The Canadian Dollar remained almost unchanged versus the Dollar after better than expected employment data in the U.S and Canada left the pair unchanged. Canadian Unemployment Rate came out 8.5% versus 8.6% expected and Employment Change showed a surprising rise of 79.1K more workers versus 15K expected. Overall, USD/CAD traded with a low of 1.0433 and a high of 1.0595. Today, Building Permits are expected to rise by 1.1% versus 1.6% prior.

USD Dollar (USD)

The Dollar strengthened versus most majors as US stocks fell after Nonfarm Productivity contracted to 8.1% vs. the 8.5% expected and despite the number of unemployed that dropped to the smallest lowest since March 2008 coming at 457K. In addition, Unit Labor Costs dropped to -2.5%. NASDAQ and Dow Jones decreased by 0.54% and 0.84% respectively. Crude oil weakened by 0.2% closed at 76.46$ a barrel and Gold (XAU) rose by 0.4% closed at 1217.4$ an ounce. Today, Non-Farm Payrolls is expected at -119K vs. -190K prior and Unemployment Rate is expected to remain at 10.2%.

EURO (EUR)

The Euro approached a 16-month high versus the Dollar after Trichet said in Frankfurt the ECB will charge a variable rate instead of a fixed 1% for one-year loans offered this month. The Euro later fell versus the Dollar as US stocks fell. Overall, EUR/USD traded with a low of 1.5041 and with a high of 1.5140. Interest rate remains unchanged at 1%.

British Pound (GBP)

The Pound weakened against the Dollar after the service sector grew more slowly than expected in November came out at 56.6 vs. 57.00 forecast, but new business continued to pick up and firms were optimistic. Overall, GBP/USD traded with a low of 1.6555 and with a high of 1.6720. No economic data expected today.

Japanese Yen (JPY)

The yen weakened for a third day against the Euro and the Dollar as signs the global economy is recovering boosted demand for riskier assets. Overall, USD/JPY traded with a low of 87.34 and with a high of 88.47. No economic data expected today.

Canadian dollar (CAD)

The Canadian Dollar fell versus the Dollar after European Central Bank President Trichet called for a strong U.S. dollar, prompting traders to purchase the Dollar to cover short positions. Overall, USD/CAD traded with a low of 1.0462 and with a high of 1.0583.Today, Employment Change is expected to rise from -43.2K to 15.3K, Unemployment Rate is expected to remain at 8.6%, Ivey PMI is expected at 60.4 vs. 61.2 prior.

USD Dollar (USD)

The Dollar weakened versus most majors as better than expected housing data was released and the Dubai effect fades away. Pending Home Sales came out surprisingly positive with 3.7% versus -0.4% decline expected. ISM Manufacturing PMI was released with 53.6 weaker than 54.8 forecasted. NASDAQ gained by 1.46% and Dow Jones reached new yearly highs with 1.23% change. Crude gained by 0.75% closing at 77.86$ a barrel and Gold (XAU) gained by 1.25% closing at new record highs with 1195.9$ an ounce after reaching the 1200$ mark. Today, ADP Non Farm Employment Change is expected with -149K versus -203K prior. FOMC Member Lacker will speak and the Fed\’s Beige Book will be released giving more information on future monetary policy decisions. Crude Oil Inventories are expected with -0.4M decrease versus 1M prior, and could result volatile prices.

EURO (EUR)

The Euro continued to climb versus the Dollar as Dubai\’s effect fades off and equity markets continue rising. Euro Zone Unemployment Rate came out 9.8% as expected and German Unemployment Change came out better with -7K decrease versus 5K increase expected. Overall, EUR/USD traded with a low of 1.4971 and with a high of 1.5117. Today, PPI is expected with 0.1% versus -0.4% prior.

British Pound (GBP)

The Pound rose versus the Dollar after Housing Prices showed an increase of 0.4% higher than 0.3% expected and Dubai\’s crisis concerns eased. Manufacturing PMI came out weaker with 53.6 versus 54.1 expected. Overall, GBP/USD traded with a low of 1.6390 and a high of 1.6646. Today, Construction PMI is expected with 46.9 versus 46.2 prior. MPC Member Dale will speak today at Essex.

Japanese Yen (JPY)

The Yen weakened versus the Dollar and the Euro after BOJ announced it will provide 115 billion Dollars for 3 month loans at 0.1%. Monetary Base came out weaker with 3.8% versus 4.7% expected. Overall, USD/JPY traded with a low of 86.16 and a high of 87.53 and EUR/JPY traded with a low of 129.32 and a high of 131.27. Today, Capital Spending is expected with -15.8% versus -21.7% prior.

Canadian Dollar (CAD)

The Canadian Dollar rose versus the Dollar as investors shift back to higher yielding assets. Australian government raised its overnight interest rate by 0.25% supporting other commodity linked currencies such as the Canadian Dollar. Overall, USD/CAD traded with a low of 1.0405 and a high of 1.0576. No economic data expected today.