News Headline Summary

Moderate risk off sentiment is evident across the board in a combination of uncertainty on the timing of the next Greek tranche, weak Aussie data and on-going concerns over the US fiscal cliff

Analysis details (20:18)

- A flight to quality is being seen into the USD which in turn is weighing on the major currency pairs. EUR/USD trading at session lows of 1.2690 marks a two month low, after stops tripped through the 1.2700 handle.
- The strengthening USD is also weighing on commodity prices with spot gold spiking lower in the last few minutes in otherwise thin trade and WTI crude sitting at its low of the day down USD 0.30 at USD 85.27.
- In turn AUD has continued to weaken with Australian business conditions also coming in at its weakest since May 2009.

12 Nov 2012 - 20:13 - - Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: