Data/Event Risks USD: The data stands behind the continued ebb and flow of sentiment in the wake of the election and ahead of the fiscal cliff (whatever form it takes). Generally, Michigan has historically had only muted FX response. EUR: No scheduled major events for the rest of day, but the focus is on bailout sentiment with finance ministers meeting next week. GBP: Trade data more important as Bank of England has been more concerned with impact of stronger currency on economy. Weaker number would knock sterling from better tone. Idea of the Day It’s not all about the dollar. EUR/GBP illustrates well the weakness of the euro on the crosses and the break below key trendline seen mid-week set the cross up for a sustained move towards the 0.7924 level seen at the end of September. Even though beset by its own problems, sterling again appears to be gaining a modest safety premium as the single currency buckles under its own problems. Lack of further QE from the BoE yesterday was naturally supportive for sterling. Latest FX News USD: Fiscal cliff debate dominates. For what it’s worth, ratings agency S&P offered 15% chance of US falling over the cliff edge as politicians fail to reach a compromise. EUR: Decision on next Greek aid payment won’t be made at next week’s meeting of finance ministers, according to official quoted by Bloomberg, with fuller assessment awaited. JPY: Consumer confidence data fell to 39.7 (from 40.1). Yen has so far sustained move below 200d moving average (currently at 79.66). Focus on GDP data next week. CNY: Inflation lower than expected (1.7%), Production firmer (from 9.2% to 9.6% YoY) and Retail Sales also stronger (14.2% to 14.5%). Overall modestly positive for risk assets. AUD: Reserve Bank of Australia cut 2013 growth forecast on weaker natural resource investment, keeping alive hopes for rate cut, but China news dominated, allowing push back above 1.04. FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next Look for the EUR to remain under pressure Matthew Lifson 10 years Data/Event Risks USD: The data stands behind the continued ebb and flow of sentiment in the wake of the election and ahead of the fiscal cliff (whatever form it takes). Generally, Michigan has historically had only muted FX response. EUR: No scheduled major events for the rest of day, but the focus is on bailout sentiment with finance ministers meeting next week. GBP: Trade data more important as Bank of England has been more concerned with impact of stronger currency on economy. Weaker number would knock sterling from better tone. Idea of the Day It's not all about the dollar.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.