Trading in Australia, New Zealand, Hong Kong, Indonesia, the U.K. and Germany resumes today after the two-day Christmas holday and before a break for New Year ́s Day on Januar 1.The S&P rose 0.3 percent to an all-time high of 2088.77 December 26. The measure capped a weekly advance of 0.9 percent after the Fed soothed concern over higher borrowing costs, saying after its last meeting of 2014 that policy makers will be patient when it comes to raising rates, even as evidence of a strengthening U.S. economy mounts. The Dow Jones Industrial Average cemented its place above the 18000 point mark last week, climbing 1.4 percent to 18053.71. The yen lost 0.7 percent last week and the euro retreated 0.4 percent, as the Bloomberg Dollar Spot Index, which tracks the dollar versus 10 major peers, jumped 0.5 percent. The U.S. currency is poised to strengthen against all of its 31 major counterparts in 2014, the first time that ́s occurred in data going back to 1989, as the improving economy and Fed plans to raise rates next year lure investors. The Australian dollar was little changed at 81.15 U.S. cents after slipping 0.1 percent last week in a sixth straight week of declines. New Zealand ́s dollar was steady at 0.7749 after trading little changed last week. It was climbed 3.6 percent against the AUD this year, set for a third straight year of gains. Gold was little changed at $1194.45 an ounce after advancing Dec. 26 amid speculation China, the world ́s biggest consumer, wil step up measures to support its economy, thereby boosting demand for the precious metal as a store of value.
Read the full report: FX Daily