Spain’s Q4 GDP falls 0.3% vs. prior quarter, according to Bank of Spain
Eur/Usd is off slightly to 1.2918.
Aussie Above Trendline
The AUDUSD pair broke above 6 month old trendline resistance, but has lost its bid at the 76.4% of the October to November move.
USDSGD Below Support
The USDSGD pair is clearly below all the support we have been reviewing the last few weeks, with the 200 day mavg ~ 2 big figures lower.
EURUSD Gaps Lower But Holds
The EURUSD pair opened the week below the 1.29 handle, however it has held what was trendline resistance and the 21day moving average.
US Existing Home Sales Slightly Weaker
Existing Home Sales: Survey: 4.65M Actual: 4.61M Prior: 4.42M Revised: 4.39%
Existing Home Sales (MoM): Survey: 5.2% Actual: 5.0% Prior: 4.0% Revised: 3.3%
Sarkozy says Eurozone still facing danger
Eur/Usd down to 1.2890.
UK Retail sales rise 0.6% in December, matching forecast
Gbp/Usd trades at 1.5470 after news, down 5 pips.
UK’s Broadbent on the wires
* MPC not dealing in fine tuning policy
* BOE to keep forecast of flat Q4, Q1
* risks to UK overwhelmingly from Europe, downside risks lessened slightly over last 6 months




