U.S. Dollar Trading rose against the majors in the Friday night

CURRENCY TRADING SUMMARY
U.S. Dollar Trading (USD) rose against the majors in the Friday night forex session as US CPI came in less than expected and industrial production edged up higher. US CPI was expected to increase by 0.2% for both headline and core, but results for November were unchanged. Industrial production rose by 0.2% beating consensus for no change. In other markets, the Dow Jones index climbed 28pts and the NASDAQ finished up by 3pts as investors absorbed less than expected inflation numbers pushing the Dow Jones index to all time highs. Crude oil rose by US92c to US$63.43 a barrel in response to proposed cuts by OPEC in oil production. Looking ahead, US current account is due out tonight.  

The Euro (EUR) traded within a low of 1.3060 and a high of 1.3187, before closing at 1.3078 in the New York session.

The Japanese Yen (JPY) traded within a low of 117.45 and a high of 117.33 versus the dollar, before closing at 118.08 in the New York session. Looking ahead, the BoJ meet today to announce their interest rate decision tomorrow.

The Sterling (GBP) traded within a low of 1.9501 and a high of 1.9666, before closing at 1.9515 in the New York session.

The Australian Dollar (AUD) traded within a low of 0.7795 and a high of 0.7844, before closing at 0.7818 in the New York session.

Gold (XAU) fell by US$11.90 to US$619 an ounce as investors switched from commodities to rising equity markets. Silver dropped 7% in the sell-off. 

Euro 1.3085
Initial support at 1.303 (38.2% retracement of the 1.2483 to 1.3368 advance) followed by 1.298 (Former resistance from Jun 5). Initial resistance is now located at 1.3187 (Dec 15 high) followed by 1.3254 (Dec 14 high).

Yen 117.95
Initial support is located at 117.26 (Dec 14 low) followed by 116.65 (Dec 13 low). Initial resistance is now at 118.61 (Nov 9 high & 76.4% ret 119.90 to 114.43) followed by 119.67 (Oct 24 corrective high).

Pound  1.9530
Initial support at 1.9466 (Dec 11 corrective low) followed by 1.9463 (38.2% retracement of the 1.8838 to 1.9849 advance). Initial resistance is now at 1.9666 (Dec 15 high) followed by 1.973 (Dec 13 corrective high).

Australian Dollar  0.7815
Initial support at 0.7774 (50% retracement of the 0.7614 to 0.7933 advance) followed by 0.7769 (Former resistance from Nov 1). Initial resistance is now at 0.785 (Dec 15 high) followed by 0.7897 (Dec 13 corrective high).

Gold  615
Initial support at 614.8 (Nov 17 corrective low) followed by 613.4 (Nov 8 corrective low). Initial resistance is now at 638.1 (Dec 8 high) followed by 650.2 (Dec 1 high).