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Here is the latest stuff from the markets...
USD continues its rally on mixed data. Focus on US Housing Starts and UK CPI.

CURRENCY TRADING SUMMARY – 18 DECEMBER 2007 (00:30GMT)

U.S. Dollar Trading (USD) rose to seven week high against the Euro and was able to rally against a number of other majors, all but the sterling pound.

The moves were attributed to easing concerns that the worst housing slump in 16 years would cause an economic recession, hence also reducing the likelihood of the Federal Reserve cutting rates as early as next month.

In data specific news, TIC flows for the month of October were well above expectations coming in at 97.8 bln (previous was revised lower to -32.8 bln), whilst the currency was also boosted by the Current Account (Q3) coming well above of consensus at 178.5 bln (Forecast: -183 bln; Prior: -189R).

Any further moves were capped with NY Fed Manufacturing coming lower than expectations.

In U.S. share markets the NASDAQ was down by -169.70 (-1.75%) whilst the Dow Jones was also down by -172.65 (-1.29%).

Crude oil was lower by US$0.60 a barrel to US$90.67.

Housing starts appears to be key data release out of the US on Tuesday as the housing sector continues to be the hottest topic in 2007.

(Keep an eye on the housing data to show the way forward...)