By GoLearn Forex
Global Equity Markets finished last week on an upbeat note. On Wall Street, the DJIA gained for a third straight session to close at a high of 10,618.20. In the overnight session, Asia advanced on better than expected Import/Export figures from China, signaling a continue confirmation of a pending global recovery.
As equity markets advanced, the Greenback continued to show signs of weakness on slightly worse than expect job data that printed Friday with Unemployment holding tight at 10%. Investors seem once again convinced that FED Chairman Ben Bernanke will hold rates low possibly through 2010. The DXY closed at 77.471, tumbling nearly a half point.
Gold continues to strengthen after losing ground to close out 2009. It finished Friday's session at 1,138.25, a gain of $6.65. Oil closed at 82.75 on Friday, representing its 12th higher close in 13 sessions. A streak of cold weather on a global scale has helped to keep oil above the $80 a barrel level.
On the docket for Economic releases today, in Canada; Retail Sales, Housing Starts, and Building Permits will print. In Japan, Trade Balance figures will publish. As it will be a relatively quiet day, expect that prevailing Dollar weakness will continue to be today's theme.
Upcoming Forex Events for January 11, 2010
CHF Retail Sales (YoY) Forecast 2.00% Previous 3.10%
CAD Housing Starts Forecast 160.00K Previous 159.00K
NZD NZIER Business Confidence Previous 36.00
GBP RICS House Price Balance Forecast 38.00% Previous 35.00%