Forex and Gold Daily Report for December 20, 2012

The U.S. dollar pulled back from multi-month lows against the euro and the pound on Wednesday but remained under pressure as hopes for a deal on the U.S. fiscal cliff continued to underpin market sentiment.

Investor confidence was boosted by signs of progress in negotiations aimed at avoiding the fiscal cliff, automatic tax hikes and spending cuts due to take effect on January 1, which investors fear could threaten U.S. and global growth.

Gold prices trickled down in U.S. trading on Wednesday as investors sold on talk the U.S. will avoid a year-end fiscal cliff, a potentially recessionary combination of tax hikes and spending cuts due to take effect at the end of this year.

 

To download complete report; CLICK:  Forex and Gold Daily Report 20 December 2012

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