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Italy: Global Trade Balance (Dec): €2.162B; Trade Balance EU: €-1.155B

Commodities Brief – Gold prices fall to 6-week lows, G20 eyed

Gold prices reached have reached a 6-week low against the USD following yesterdays weak Eurozone GDP data that sent the yellow metal into a tailspin, recording its lowest monthly figure to date at the 1629 region. As of European trading however, the price has not faired much better, as prices were capped at 1634, before waning again to USD $1630.96 at the time of writing. Investors remain cautious as the renewed economic worries over the Eurozone adds to worries over the G20 meeting later today and on Saturday, as the “Currency war” will move to Moscow where finance officials debated over Japan`s expansive policies that have driven down the value of the yen.
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Forex Flash: Trade convergence in GBP vol space. - Societe Generale

Sebastien Galy, Senior FX Strategist at Societe Generale notes that the recent rise in EUR/GBP vol left cable vol lagging.
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