Dear Reader,

Global Markets:

The dollar rose against majors after U.S. factory data came out stronger than expected, yields edged higher and minutes from Fed meeting showed more optimism about the economy growth though the change wasn't sufficient to warrant any adjustments to its $600 billion bond-buying program. Moves in the currency markets were overshadowed by a steep selloff in gold and other commodities. Looking ahead, ADP Non-Farm Employment Change and ISM Non-Manufacturing PMI, both expected better. The Euro traded at $1.3280, down from around $1.3436. Looking ahead, German December PMI Services forecast at 58.