LIVE FOREX QUOTES

The US Dollar gained ground on the Yen, and made temporary gains against the Euro before ending pretty much flat for the session. As the Nikkei cruised to its ninth out of ten positive sessions, USD/JPY made nice gains from early session lows of 93.26 to reach highs of 94.13 before exiting the session near 94.00. EUR/JPY whipped around from a 125.78 low to highs just over the 27.00 figure. The Nikkei also reported today that the Japanese Government would look to scrap the 40% capital gains tax for foreigners holding Japanese companies in funds for 2009.

The EUR/USD pair weakened early to 1.3431, but came clawing back to highs of 1.3540ish before walking into the data loaded London session near the 1.3500 figure. The overall elation in the markets over the upcoming Presidency of Barak Obama has helped to elevate the Dollar, but the question will be how long can that elation last? Today in London we have a good deal of pertinent data including German employment and Euro Zone PPI.

Upcoming Economic Data Releases (London Session):

1/7/2009	7:00	GE	Wholesale Price Index (MoM)	DEC	-3.30%	-1.70%
1/7/2009	7:00	GE	Wholesale price Index (YoY)	DEC	-0.80%	-2.00%
1/7/2009	7:00	GE	ILO Unemployment Rate	NOV	7.10%	7.10%
1/7/2009	8:55	GE	Unemployment Change (000's)	DEC	-10K	10K
1/7/2009	8:55	GE	Unemployment Rate (s.a)	DEC	7.50%	7.50%
1/7/2009	10:00	EC	Euro-Zone PPI (YoY)	NOV	6.30%	4.50%
1/7/2009	10:00	EC	Euro-Zone PPI (MoM)	NOV	-0.80%	-0.90%
1/7/2009	10:30	UK	BRC December Shop Price Index (Table)	7-Jan