ForexLive North American Wrap

US Nov trade deficit $48.7B vs $41.3B exp Canada Nov trade balance -$1.96B vs -$0.17B prior UK NIESR GDP estimate -0.3% through Dec Goldman says to buy EUR/USD HSBC: Buy AUD/JPY Merkel: EU must show solidarity with Cyprus Fed's Plosser warns about global currency war Plosser: 'Conceivable' Fed could hike rates in 2014 Irish Dec consumer sentiment 49.8 vs 63.8 in Nov Spanish 10-year yields fall below 5% Italian 10-year yields down 7bps to 4.09% EUR/CHF hits one-year high above 1.22 On the day, EUR leads and NZD trails On the week, EUR leads and JPY lags (+350 pips) I came in expecting consolation after the big moves on Thursday but the euro kept on rollin' -- all the way up to 1.3366, taking out barriers at 1.3300 and 1.3350. USD/JPY came into US trading near the lows of the session at 88.74 but (once again) the market was buying any dip and the pair flashed to a fresh cycle high at 89.45. Chatter about 89.50 barriers and there will most-definitely be corporate sellers at 90.00. Cable tried to track higher with the euro but had its knees kicked out by the NIESR estimate, dropping down to 1.6090 from 1.6160. It recovered in late trading to 1.6133. USD/CAD fell to the lowest since mid-October, tripping some stops below 0.9825 but (as is the custom) most of the declines evaporated. Gold fell hard, down to $1654 from $1676 for no particular reason but there was chatter about hedge fund sales. Have a great weekend.