Place balsamic and orange peel in a large saucepan, bring to a boil. Reduce eat to low and simmer, uncovered for 4 minutes or until reduced by half.
Add cranberries, sugar, juice and cinnamon. Increase the heat to medium, bring to a boil again, then reduce the heat to low. Simmer uncovered for 15 minutes or until thickened, stirring occasionally.
Remove from heat. Transfer to a bowl, cover and chill.