The Eurodollar traded lower for the second consecutive week. Friday’s better than expected NFP data also provided support to the greenback against most of its rivals.
The British pound fell last week after a mixed picture emerged from economic data, amid hopes that the investment climate is improving.
The USD/Yen pair fell to hit an almost four month low. Traders believe the bank of Japan is about to announce a policy shift after governor Ueda signalled a change in comments made on December 7th.
After hitting a record high of 2144 dollars gold prices pulled back. The situation in Israel remains tense as Israeli troops push further south into Gaza.
US stocks managed a sixth week of rising prices, suggesting that the Santa Klaus rally has come early this year. Amazon stated that its Black Friday period was its largest yet. More than 1 billion items were sold in the 11 days from when its sales began.
Oil prices fell as traders appeared unconvinced by the OPEC decision for additional voluntary production cuts from next year. The US announced it will shortly commence purchasing 3 million barrels of oil to refill its strategic reserve.