Forex: ‘Fiscal cliff’ already weighting on Wall St., dollar remains flat (Barcelona) - Wall St. has reverted its initial positive trend, buoyed after Cisco Systems surprised market participants posting unexpected gains in the third quarter. News caught the markets off guard, as prospects for Cisco peers such as Intel, EMC and IBM were quite gloomy.
But that upbeat kick off has soon died off, as the US ‘fiscal cliff’ has started to weight on traders, transforming profits into losses and turning the session into red.

The US dollar, gauged by the US Dollar Index, remains flat so far, consolidating around 81.10 after risk aversion and risk appetite was alternating in the predominance of the session.

Markets in Europe finished in negative ground, against a backdrop of rising social unrest reflected in general strikes in Spain, Greece and Portugal. The euro continues to trade in a congestion pattern centered in 1.2740, as rumors were insufficient to generate a noticeable move. The FTSE100 led the losses with 1.11% followed by the German DAX, 0.94% and the CAC40, 0.89%.

In the meantime, both WTI and Gold are trading firmly into the positive territory, climbing 0.81% and 028%, respectively.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.