Forex: Positive ‘fiscal cliff’ talks bolstering US markets, dollar recovers ground

FXstreet.com (Barcelona) - The US markets are differing from their European peers, as “very constructive” talks regarding the US ‘fiscal cliff’ between President B.Obama and the Congressional leaders are acting as support for the upbeat momentum in the stock markets. The greenback, in the meantime, remains in the positive territory although retracing ground after the US Dollar Index hit fresh highs in the boundaries of 81.50
As of writing, DowJones is advancing 0.24%, S&P500 and Nasdaq are following suit, up 0.325 and 0.45%, respectively.

Across the Atlantic, the euro zone remained trapped amidst an irrelevant docket - despite good results out of the bloc trade balance – and lack of action in the two main protagonists of the ongoing crisis, Spain and Greece. The single currency was unable to generate any traction after yesterday’s spike of the key mark at 1.2800, falling as low as 1.2690
After the closing bell in the European markets, the red was the prevailing colour: IBEX35 down 1.39%, DAX 1.32% and FTSE100 1.27%.

The upbeat mood is also reaching the barrel of WTI, climbing 1.60% or almost $1.4 to $86.78/bbl, while Gold is in the verge of the green figures, posting marginal losses at $1713/oz.

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