Market Overview

ForexLive North American wrap: No deal or no deal

Obama hosts White House meeting, no fiscal cliff proposal
Fmr Greek finance minister accused of altering Lagarde list
Chicago PMI 51.6 vs 51.0 exp
US pending home sales +1.7% vs the +1.0% consensus
Chatter about 60-90 day fiscal cliff mini-deal
S&P 500 down 1.1%
VIX climbs 16% to highest since June
GBP leads, NZD lags

The euro rebounded above 1.32 at the outset of US trading and quietly circled around 1.3220 afterwards. The fiscal cliff headlines were seemingly a stocks-only story, although the commodity currencies bounced around.

The New Zealand dollar gapped 40 pips lower at one point but bounced right back.

The pound was strangely bid throughout trading, assuredly flow related.

Have a great weekend.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Economics Markets Trading Ideas

 

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