Fiscal Cliff Deal Euphoria Fades

Fiscal Cliff Deal Euphoria Fades

The euro (EUR) is weakening against most of its major counterparts, after a boost in risk appetite following the deal to stave off the US "fiscal cliff" is fading out. The bill passed on Tuesday night following the house vote, where 172 Democrats and 85 Republicans voted in favour of it. The Federal Open Market Committee (FOMC) minutes release at 19:00 GMT is the highlight of the day, while the US employment data print at 13:15 GMT will prepare investors for the Non-farm Payrolls (NFP) release due tomorrow.

The Japanese yen (JPY) is still trading above the 87.00 mark against the US dollar (USD). The pair needs a break to challenge the 87.35 resistance level for higher highs to be recorded.
The Australian dollar (AUD) benefited the most following the "fiscal cliff" deal, rising across the board however it has since been trading sideways.
GER 30 (DAX) has commenced the first trading session of the year with a huge gap up, opening at 7743.3 from 7624.3. The German equities index recorded a fresh multi-year high at 7770 and looks set to continue its impressive uptrend.
Gold (XAU) advanced by 18 US dollars (USD) an ounce yesterday.