by GoLearn Forex
The NIKKEI and HANG SENG pushed higher for a third straight session, as automakers lead the way on better than expected sales. In Europe and the U.S, equities were mixed across the board. The DJIA was off slightly to 10,572.02 yesterday as the market digested worse than expected Pending Home Sales figures. However, offsetting Pending Home Sales were Factory Orders which showed another huge up-tick, rising by 1.1%
Gold slid by $2.80 to finish the day at 1,118 an ounce, as the DXY was up for the first time in 3 sessions, closing at 77.619. The Pound and EUR yielded the most to the Greenback giving up .58% and .33% respectively. The EUR hit an intra-day high of 1.4484 but failed to maintain recent momentum. The Cable closed below the key 1.60 level as both the EUR and GBP look poised to resume weakness versus the Dollar. Oil maintained it price above the key $80 level, as colder winter weather sets in across the Globe. Oil closed Tuesday's session at $81.77.
In Britain this morning the Consumer Confidence printed at 69, lower than the 72 analysts were looking for. In the U.S, ADP Employment figures will print as will the FOMC Meeting Minutes and ISM Non-Manufacturing Index. We expect to see increased volatility in the Forex Markets as traders continue to realign positions after locking in profits for 2009.
Upcoming Forex Events for January 6, 2010
EUR Industrial New Orders (MoM) Forecast -0.90% Previous 1.50%
USD ADP Nonfarm Employment Change Forecast -75.00K Previous -169.00K
USD FOMC Meeting Minutes
NZD Trade Balance Forecast -400.00M Previous -487.00M
Automakers See Better Than Expected Sales
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