As of this morning Gold is near 1237.00 USD. Crude Oil is trading near 93.67 as it stays near its lower values. Pending Home Sales will be released from the U.S. later today and the number will be watched after a disappointing Existing Home Sales number last week. Equity markets continued their punch upwards last week, while the FTSE sputtered slightly. And as questions continue to be asked about fundamental economic health worldwide, equity investors essentially will begin this week continuing to play a game of risk on wondering when the party may come to an end.

Full volume will come early this week, but traders should note that as of Wednesday afternoon many offices in the States will become lean as the Thanksgiving holiday begins to kick in. The U.S. will release Core Durable Good numbers on Wednesday, but this data will hardly be looked at. Trading will center around the holiday to come, how and when the Fed will  it begin to taper, and what lurks in the heart of the American consumer.

Retail Sales in the States beat a very meek estimate last week. And caution remains the key word regarding the sentiment of American purse strings as the huge holiday shopping season approaches.

The EUR turned slightly weaker as trading finished on Friday. After showing signs of wanting to test short-term highs again resistance proved too strong. The GBP has continued however to be one of the best performers and finds itself near short-term highs. Last week’s PMI data from Europe showed that while Germany continues to have good results, that many other nations making up the E.U. are struggling – including France. The U.K. will see the BBA Mortgage Approvals report today and tomorrow the BoE will undertake its Inflation Report Hearings which will certainly play into FX action.