Obama not making new fiscal cliff offer – RTRS

View Comments

Obama will begin a meeting on the fiscal cliff momentarily.

According to a Reuters source he will not make a new offer but will lay out an approach he thinks can pass through Congress. If the leaders don`t support his plan, Obama will ask for a counterproposal.

Obama`s plan includes tax hikes for earners above $250,000, an extension of employment insurance and other issues, according to the source.

It sounds like the same old stories, stocks are unhappy.

Author: Adam Button

Adam Button is the managing editor of ForexLiveâ„¢. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.


  1. E/$ seems to be happy… E/Y too !

  2. Risk off no??? Cable up at highs of day…. Anyone shed light?????

  3. Hi Adam, any ideas why cable is so strong today? it just made new highs for the day

  4. I’m afraid we can get a Buy the rumour Sell the fact and if we have a mini deal at last minute, we could have a risk-off scenario coming…

  5. I am struggling with implications for main currencies as well.

    No agreement should be risk off and positive for the dollar. But how can it be bloody positive for the dollar if US would dive into recession?

    A Newbie

  6. it is extremely difficult to track down the reasons for moves at this time of year.


© Copyright 2014 ForexLive™  |  Advertise With Us  |  Login To Comment  |  Sitemap

HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.

ADVISORY WARNING: FOREXLIVE™ provides references and links to selected blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the blogs or other sources of information. Clients and prospects are advised to carefully consider the opinions and analysis offered in the blogs or other information sources in the context of the client or prospect's individual analysis and decision making. None of the blogs or other sources of information is to be considered as constituting a track record. Past performance is no guarantee of future results and FOREXLIVE™ specifically advises clients and prospects to carefully review all claims and representations made by advisors, bloggers, money managers and system vendors before investing any funds or opening an account with any Forex dealer. Any news, opinions, research, data, or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. FOREXLIVE™ expressly disclaims any liability for any lost principal or profits without limitation which may arise directly or indirectly from the use of or reliance on such information. As with all such advisory services, past results are never a guarantee of future results.