Forex headlines for December 26, 2013:

  • Initial jobless claims 338K vs 345K expected
  • US retail sales rose 3.5% in holiday season – MasterCard Advisors SpendingPulse
  • UK Boxing Day shopping rises 0.5% y/y -Springboard
  • South Sudan rebels seize oil wells
  • Goldman Sachs sees Q4 growth at 2.4%
  • Macroeconomic Advisers sees Q4 GDP at 2.6% vs 2.3% prior
  • S&P 500 hits fresh record high at 1842
  • VIX falls 5.9% to lowest since March
  • Gold up $8 to $1210
  • WTI crude touches $99.79, highest since Oct 22
  • US 10-year yields rise 11 bps to 2.99%
  • GBP leads, AUD lags

Cable began a long climb higher at the start of US trading at 1.6380. At the London fix, it high 1.6436 before chopping back to 1.6412 late in the day.

EUR/USD was locked in a range. A quick down down to 1.3680 was picked up up and from there it chopped toward 1.3700. Every attempt at the big figure is beaten back.

The BOJ minutes triggered the latest rally in the yen crosses but sellers ahead of 105.00 continue to defend the upside. Some profit taking was evident ahead of year end as it slipped back to 104.75.

Gold found some life on a bump up to $1215 at the US open but chopped back to $1210.