US Dollar    : The Indian Rupee weakened on Thursday, giving up three-week highs of the previous session. The currency closed at 46.65, weighed down by weak domestic equities, dollar demand from oil firms and late reversal in the US dollar.Equity markets felt pressure despite better-than-expected industrial output data.The dollar index gained strength yesterday on the back of risk aversion that led to a decline in equities and higher demand for the safe-haven dollar. The bounce back in the dollar has also been a technical factor and the currency may manage to trade above its 15-month lows in the near-term.

Euro           : The Euro (EUR) was heavily sold against the greenback and the Pound as Oil and stocks slumped in the US session. EUR/JPY held up well though as the Yen was also sold against the USD quite aggressively. EUR/GBP slipped back through 0.9000 as the recent pound weakness provided a buffer against further losses overnight. September Industrial Production is forecast at 0.4% was slightly weaker at 0.3%. Overall the EUR/USD traded with a low of 1.4820 and a high of 1.5018 before closing at 1.4850. looking ahead, Q3 GDP forecast at 0.8% vs. 0.3% previously. EU Q3 GDP forecast at 0.5% vs. -0.2% previously.  

Sterling      : The Sterling (GBP) held up surprisingly well to USD strength with EUR/GBP selling and GBP/JPY buying offsetting to keep cable relatively unchanged. Ongoing support from M&A activity and general investment in to UK firms is providing an undercurrent of support for the Pound. Overall the GBP/USD traded with a low of 1.6513 and a high of 1.6629 before closing the day at 1.6570 in the New York session.

Yen             : The Japanese Yen (JPY) weakened against the USD as the key 90 Yen level was broken on the topside and senior MOF officials stated that exit strategies were still some time away as the Japanese consumer remains weak. Overall the USDJPY traded with a low of 89.63 and a high of 90.63 before closing the day around 90.35 in the New York session. Looking ahead, September Industrial Output previously at 1.4%.

AUD            : The Australian Dollar (AUD) was hurt the most as the market was caught wrong footed after surging to fresh year highs in Asia to 0.9370 on the back of strong October Employment numbers showing +24k jobs vs. -10k forecast. When US stocks turned south and Oil crumbled the market liquidated and reversed the days direction to plumb 4 day lows. Overall the AUD/USD traded with a low of 0.9210 and a high of 0.9372 before closing the US session at 0.9230. 

Oil & Gold   : Oil & Gold (XAU) pulled back nearly $20 an ounce from fresh year highs as the USD strengthened across the board. Overall trading with a low of USD$1102 and high of USD$1123 before ending the New York session at USD$1104 an ounce. Was sold heavily after US oil inventories rose more than expected. Crude Oil was down -$1.73 ending the New York session at $77.55.