Crude is homing in on the $38.00 as support around $40 finally gives way. Combined with lower interest rates and the potential for tax cuts, lower energy prices are a perfect count-cyclical stimulus for the US.
EUR/USD continues to give ground after breaking support at 1.4465 and eyes 1.4400. A break of 1.4347 lows would leave an outside day and may finally signal to momentum accounts to take their winnings and crack open the eggnog.