Forex Market Update -

The USD trended slightly higher overnight, posting a 1.2758-1.2793 range against the EUR and a tight 116.30-116.52 range against the JPY.
In the news, the US warned that Iran's response to the UN conditions was short of requirements and is now consulting with the rest of the Security Council on what to do next.

The Nikkei lost close to 1% overnight with cyclical stocks under pressure following the weaker than expected US housing data.
Crude oil recovered in Asian trading hours while at -0.62 (vs. - 0.76 on August 21).

High yielders' and emerging market spreads to US Treasuries have widened and gold has started to rise.

Today we have Important Datas, durable goods orders for July are due at 1230 GMT and the market expects a decline of 0.5% m/m, following the 2.9% m/m rise in June. Jobless claims for the week ending July 19 are due at 1230 GMT.