ForexLive US wrap: Iran threat boosts oil

Iran threatens to block oil exports through the Straits of Hormuz if sanctions are placed on its oil Chicago Fed Midwest manufacturing index 85.8 in November from upwardly revised 85.9 in October Case-Shiller home price index falls 3.4% in October versus a year ago Conference Boards US consumer confidence index rises to 64.5 in December from 55.2 in November Richmond Fed manufacturing index +3 in December from 0 in November ECB sees deposit facility rise to record levels as LTRO cash is placed on deposit US will come within $100 bln of debt ceiling by Friday; Obama to ask for $1.2 bln extension Dallas Fed Manufacturing index falls -3.0 from +3.2 in November DPJ to propose doubling Japanese sales tax to 10% from 5% by 2015: JiJi Press Obama nominates two to the Federal Reserve Board of Governors Greece to hold elections at end of April S&P 500 unchanged at 1266 US 10-yr note falls 2 bp to 2.00%; Italy rises 5 bp to 7.05% WTI rises $1.65 to $101.35; Gold falls $14 to $1593 Very quiet trading amid holiday market conditions. The Iranian threat to close the Straits of Hormuz was the most impactful event of the day, sending crude back above $101 and helping underpin commodity currencies and EUR/USD slightly. USD/CAD was the main beneficiary of the news, dipping to test support near 1.0175. Stop-loss sell orders in the 1.0165/70 area may come into play overnight. EUR/USD plied a 1.3057/1.3078 range. Offers are seen from 1.3080 up to 1.3100. Bids are eyed in the 1.3020/25 region.