Salient to Investors:

Noriaki Murao at Bank of Tokyo-Mitsubishi UFJ said the biggest focus as we head into year-end will be the fiscal cliff – investors are buying safe currencies such as the dollar and yen.

62 of 63 economists expect the ECB to keep its benchmark interest rate unchanged at 0.75 percent.

Ray Attrill at National Australia  said a rate cut is unlikely and expect dovish commentary from Draghi at the post meeting press conference

Kengo Suzuki at Mizuho Financial said there is still uncertainty whether or not Greece will be able to secure the next tranche of aid at the next European Union summit – the yen and the dollar are being bought for safety.

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