US Dollar Recovers as Holiday Lull Sets In; Upbeat Data Helps Sentiment, Though ECB Warns on Rates
• US Dollar recovered modestly as markets entered holiday mode; Santa Claus rally took a pause
• US economic data beat expectations - Existing Home Sales and Consumer Confidence improved
• ECB officials warned interest rates need to stay low; Eurozone Consumer Confidence rose
• Pound fell after weaker-than-expected UK inflation; GBP/USD dropped towards 20-day SMA
• Important US data due - Jobless Claims, GDP, Philly Fed; Canada to report Retail Sales