Dollar strength carried into Black Friday, seeing strong against the majors. The EurUsd fell a bit over 200pips to the low 1.27 level, while the UsdJpy rose 30 pips to the mid 95 price area. The GbpUsd slipped 90 pips to the low range of 1.53, on a light trading day. Equities are mostly flat following the US holiday, traditionally a low volume session. Bond yields remain compressed with the 2yr at 1.1% and 10yr at 2.9%, we should look for more activity next week considering monetary policy decisions out among the G7. Commodities declined across the board with oil down 3.0% at $52bbl and gold lower by .35% at $812oz.

Eurozone CPI dropped its lowest level in over two decades granting more room for ECB to focus on growth vs. inflation risk. The CPI reading came in at 2.1% vs. the consensus figure of 2.4%, more than a full percentage point lower than the prior reading of 3.2%. This is consistent with the trend of global deflation, and additional easing by central banks in coming months. It is also critical to note the spike in unemployment which was released slightly higher than expected at 7.7% vs. 7.6%. Light data out of the UK, but the Sterling collapsed as Traders place bets that BoE will cut rates this week. No announcements out of the US, but investors will be focused on sales results after Black Friday because the data serves as great insight to the willingness of consumer spending this holiday season. The results from retailers, and central bank activity should set us up for an active week of trading ahead.

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Advanced Currency Markets