New York Session – January 12, 2012 4:39 PM

The USD is weaker across all of the G10 today with exception to the NZD as risk sentiment has slowly improved over the past 24-hours. It initially began with stronger than expected sovereign bond auctions out of Italy and Spain and then continued throughout the BoE and ECB interest rate decisions. However, data out of the U.S. was clearly a sore spot as Dec. Retail Sales, weekly jobless claims, Nov. Business Inventories and Dec. Monthly Budget all disappointed. This initially saw equities falter, however they quickly made an about face as the S&P500 rallied over 10 points thereafter to close at its highest level since July of 2011 – The Dow Jones Industrial Average finished higher by about +0.17% and the S&P 500 rose by around +0.23% on the day.     Full text »

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