The AUD took heavy losses vs. its main currency rivals during yesterday's trading session, falling a bigger than expected cut in Australian interest rates. The AUD/USD fell over 100 pips following the news, reaching as low as 1.0304 during early morning trading. The aussie also fell close to 100 pips against the JPY and 145 pips against the euro. Turning to today, traders will want to focus on the UK Construction PMI at 8:30 GMT, followed by the US ADP Non-Farm Employment Change at 12:15 GMT. Any positive news could help both the British pound and US dollar reverse their current bearish trends.

Summary

USD - US Manufacturing PMI Gives USD Boost

EUR - EUR Stays Range Bound During Slow Trading Day

Gold - Gold Reverses Gains Following Positive US News

Crude Oil - US Manufacturing Data Signals Increase in Oil Demand

aud | interest rate | cut | losses | trading session | Australian | us manufacturing | pmi | euro | slow | gold | reverses | crude oil

The euro was able to maintain its recent bullish trend vs. the US dollar yesterday, after smooth debt auctions from Italy and Spain helped boost confidence in the euro-zone economic recovery. The EUR/USD saw significant gains earlier in the week, following a speech from Fed Chairman Bernanke in which he commented that the US economy was not growing quickly enough. Today, the dollar will have an opportunity to recoup its recent losses when the US Core Durable Goods Orders figure is released at 12:30 GMT. Analysts are predicting that the figure will come in well above last month's. If true, the greenback could see gains as a result.

Summary

USD - Dollar Reverses Losses vs. JPY, AUD

EUR - Euro-Zone Debt Auctions Help EUR Maintain Gains

Gold - Gold Extends Bullish Run

Crude Oil - Crude Oil Slides during European Trading

us | durable | good orders | set | volatility | reverse | jpy | aud | euro | debt auction | gold | oil

As we approach New Years we'll attempt to address the major issues for 2012.

Summary

CAD - Loose BoC Monetary Policy to Weigh on CAD

GBP - AAA Rating Won't Save Sterling

AUD - Interest Rate Differentials to Drive AUD

Gold - Gold is Not a Safe Haven Asset

2012 preview | examine | major issues | cad | gbp | aud | gold | interest rate | monetary policy

Comments by Lorenzo Bini Smaghi is the first sign of the ECB's willingness to consider quantitative easing (QE) should the need arise.

Summary

EUR - ECB Sounds More Open to the Idea of QE

GBP - New Record Low for 10-year Gilt Yield

JPY - Government Lowers GDP Forecasts

Gold - Key Gold Support and Resistance Levels

ecb | QE | Lorenzo | Bini | Smaghi | consider | quantitative | easing | gilt yield | government | low | gold | support | resistance

The US dollar strengthened considerably yesterday moving past stops during the New York trading session and dragging commodity prices lower after gold and crude oil reached new highs.

Summary

USD - Dollar Strengthening on all Fronts

EUR - Peripheral Nations Worry Markets

JPY - USD/JPY Fails at Key Resistance Level

Crude Oil - Crude Oil Sets 2-Year High

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