Technical Analysis & Market outlook by ACFX 28/12/12

Currencies    EUR/USD The euro traded at almost its lowest level since January against the dollar as concern lingered that Europe’s debt crisis will slow regional economic growth. The euro was little changed at $1.3071 at 5 p.m. in New York.

USD/JPY The yen advanced against 13 of its 16 major counterparts as concern that Europe’s debt crisis will push up the region’s borrowing costs and damp economic growth supported investor appetite for safer assets. It rose 0.1 percent to 77.81 per dollar from 77.88. The Japanese currency has gained 4.3 percent against the dollar this year and 6.8 percent against the yen.

Commodities   Oil traded near the highest level in six weeks after Iran threatened to block crude transportation through the Strait of Hormuz, increasing concern that global supplies will be curbed amid shrinking U.S. stockpiles. Crude for February delivery was at $101.32 a barrel, down 2 cents, in electronic trading on the New York Mercantile Exchange at 1:43 p.m. Singapore time. It rose $1.66, or 1.7 percent.

Equities  Asian stocks fell for a second day amid slow trading, with the regional benchmark index headed for the worst year since 2008, after a report showed U.S. housing prices fell, damping the earnings outlook for Asia’s exporters.

The MSCI Asia Pacific Index declined 0.7 percent.

Japan’s Nikkei 225 Stock Average fell 0.2 percent.

European stocks closed little changed after data on U.S. house prices and consumer confidence gave conflicting signals about the strength of the world’s largest economy.

The benchmark Stoxx Europe 600 Index rose less than 0.1

Germany’s DAX advanced 0.2 percent

France’s CAC 40 added less than 0.1 percent

U.S. stocks were little changed, following the longest rally since September, as better-than- estimated consumer confidence data overshadowed a decline in home prices and concern about Europe’s debt crisis.

The S&P 500 rose less than 0.1 percent

The Dow Jones Industrial Average lost 2.65 points