There was little buying interest in the comm bloc this morning as market participants shunned risk in the carry and mixed data added little value for fundamental traders. Early in the Asian session, the New Zealand calendar kicked things off with Performance of Services Index for November, which reported improvements in all its components, including sales, employment and new orders. The Australian dwelling starts figure for the third quarter matched its best reading since the first quarter of 2006, though there was no change to the housing component. Finally, the Canadian calendar was the most surprising. According to Stats Canada, net investment dropped a record C$24.3 billion. However, this disappointment was curbed somewhat when the outflow was seen through stocks and specifically through mergers.
[I]Written By: John Kicklighter, Currency Analyst for DailyFX.com[/I]