Week in FX Americas – Obama Hits the Road to Pressure Republicans on Fiscal Cliff

United States President Barack Obama is using Christmas themed attacks at Republicans in congress who are blocking the fiscal cliff talks. Visiting of all places a toy factory, he said that not striking a deal will make everyone in America get a tax hit in January. He said “That’s a Scrooge Christmas”

Republicans and Democrats are still apart and some are calling it a stalemate. Neither side has compromised creating uncertainty as the possibility remains of the US going off the fiscal cliff triggering tax increases and spending cuts starting January 1st.

• US Economy and Claims Beat Expectations
• US Durable Goods Flat Last Month
• Fed’s Beige Book Shows Measured Economic Growth
• Chicago Fed President Wants Low Rates until 6.5 percent unemployment
• No Deal for Cliff on Obama’s first try
• A Rise in Sales of Existing U.S. Homes in October
• Applications for US Jobless Benefits Decrease
• Poll Sees Fical Cliff to be Avoided
• Global Copper Shortage hints better Economy in 2013
• US Nov Chain Store’s sales expected to gain 1.6% vs 3.5% last year
• Goldman Sachs CEO: Seems Like ‘Fiscal Cliff’ Deal Could Be ‘Reachable’
• Sales of New U.S. Homes Fell 0.3% in October
• Obama hopes to finalize “Cliff” deal by Christmas – Dow Triple Digits Rise
• NY Fed Potter: Critical for CBs to have real-time mkt oversight
• US Treasury: China not a “Currency Manipulator”
• US House Prices advance +3%
• Better Housing Market Push Consumer Confidence Higher.
• Record Number of Black Friday Shoppers May Not Save Nov Sales Figures
• Serious Negotiations to Resume to Avoid US Fiscal Cliff
• 2013 Forecasts indicate Strong US Economy – Only If Fiscal Cliff avoided

• The Courting of Mark Carney by the BoE

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