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Philly Fed Index Plunges to -10.7.  Early expectations stood on a slide form 5.7 to 1.1 points. Note that Superstorm Sandy could have had an effect on the data.

EUR/USD is close to strong resistance at 1.28 after crossing the peak of 1.2788 seen yesterday. USD/JPY continues its rally.

In addition, Mortgage Delinquencies stand at 7.40%, after 7.50% last month.

Earlier, jobless claims leaped by 78K to 439K. These numbers haven’t been seen in a long time, and are a result of the  super storm, as some states didn’t report data. CPI rose 0.1% as expected, and core CPI rose by 0.2%, higher than 0.1% that was predicted, but not a big surprise.

Further reading:  All you need to know about the fiscal cliff  – as negotiations begin tomorrow.