Forex and Gold Daily Report 28 December 2012

The U.S. dollar turned steady to higher against the other major currencies on Thursday, after mixed U.S. economic reports, while U.S. lawmakers were to resume key budget talks.  Market players remained focused on developments surrounding the fiscal cliff in the U.S., approximately USD600 billion in automatic tax hikes and spending cuts due to come into effect on January 1. President Barack Obama was to end his vacation and return to Washington on Thursday in order to take part in talks to avert the crisis ahead of the year-end deadline. Both chambers of Congress are also due to return to work on Thursday.

Gold prices rose in U.S. trading Thursday after official data revealed fewer Americans sought initial jobless benefits than expected last week.

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