January 19th, 2012 Market Outlook

Currencies EUR/USD The dollar maintained a two-day decline against the euro amid signs the U.S. economy is gaining momentum and as Asian stocks extended a global rally, damping demand for haven currencies.

The greenback was unchanged at $1.2863 per euro as of 6:53 a.m. in London from yesterday in New York, when it slid 1 percent, the most since Nov. 11.

AUD/USD Australia’s dollar declined yesterday after a government report showed the nation’s employers unexpectedly cut jobs in December.

Australia’s dollar fell 0.5 percent to $1.0384 at 4:48 p.m. in Sydney.

Commodities Oil declined in New York as the Obama administration denied a permit for TransCanada Corp. (TRP)’s Keystone XL pipeline, which would have carried crude to U.S. Gulf Coast refineries from Alberta’s oil sands.

Crude oil for February delivery fell 12 cents to settle at $100.59 a barrel on the New York Mercantile Exchange.

Gold futures climbed to the highest settlement price in five weeks as a slumping dollar boosted the appeal of the precious metal as an alternative asset.

Gold futures for February delivery rose 0.3 percent to close at $1,659.90 an ounce at 1:39 p.m. on the Comex in New York, the highest settlement since Dec. 13.

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January 19th, 2012 Market Outlook

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