ForexLive North American wrap: No deal or no deal

Author: Adam Button | Category: News
  • Obama hosts White House meeting, no fiscal cliff proposal
  • Fmr Greek finance minister accused of altering Lagarde list
  • Chicago PMI 51.6 vs 51.0 exp
  • US pending home sales +1.7% vs the +1.0% consensus
  • Chatter about 60-90 day fiscal cliff mini-deal
  • S&P 500 down 1.1%
  • VIX climbs 16% to highest since June
  • GBP leads, NZD lags

The euro rebounded above 1.32 at the outset of US trading and quietly circled around 1.3220 afterwards. The fiscal cliff headlines were seemingly a stocks-only story, although the commodity currencies bounced around.

The New Zealand dollar gapped 40 pips lower at one point but bounced right back.

The pound was strangely bid throughout trading, assuredly flow related.

Have a great weekend.