Commodities and Forex Fundamental analysis of Dec 20th 2012/MBCFX

Commodities and Forex Fundamental analysis of Dec 20^th 2012/MBCFX

·        Gold futures edge higher to reach $1.670 amid fiscal cliff talks
·        The U.S. dollar  dropped against the yen today, after the Bank of Japan implemented additional easing measures.
·        The Euro retreated against the U.S. dollar today, on uncertainty over the U.S. fiscal cliff that affects the market sentiment, and decreased demand for riskier assets.
·        Crude oil inched down from the highest level in two months to $89.52 a barrel on US budget negotiations.
·        The U.S. dollar slipped today versus a basket of major currencies.

Major events for today:

The main focus will be on U.S. weekly jobless claims, the  existing home sales .and the US GDP data that will be released later today.