Market Overview

ForexLive US Wrap: Apocalypse Now

US GDP rises at 3.1% pace in Q3; government inventories provide major boost
Belgian business confidence rises to -11.8 in December from -13.4 in November
Philly Fed survey rises to 8.1 in December from -10.1 in November; mush better than expected
US November existing home sales rise 5.9%
November index of leading indicators falls 0.2%
US House to vote on Plan B this evening
China to allow appropriate increase in CNY movement
Senate leaders says will not take up House's plan B
Nikkei: BOJ to adopt inflation target
White House says open to further discussions on fiscal cliff

Markets have become almost entirely order driven as many withdraw to the sidelines for the balance of 2012. There was almost no reaction to the very upbeat US data released today, a sign that the market is pretty much done.

EUR/USD and USD/JPY both came close to key supports overnight and held so the best we can say is the the uptrends in both pairs remain healthy.

Gold was hard hit again today amid the usual talk of unwinding by of gold longs by US hedge funds.

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

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