by GoLearn Forex
In the overnight Session, the NIKKEI advanced 172.65 points or 1.61%, pairing losses from the day before which came on the back of the PBOC monetary tightening policies. On Wall Street the DJIA was up smartly to 10,680.77, picking up 53.5 points and making a new high for year. The European session saw modest gains across the board as well.
G-10 currencies continued to make gains on the Greenback with the CAD recovering the prior days losses, advancing .77% followed closely by the Pound at .72% The DXY closed the day with another loss, to 76.846. Gold picked up $10 an ounce on Dollar weakness while Oil closed below $80 a barrel on a better than expected Oil Inventories report.
The economic data docket is full today. Starting with the Euro-zone, the ECB will announce their Interest Rate decision today followed by ECB President Jean-Claude Trichet's press conference. Additionally, Euro-zone CPI data will print today. In Australia, Employment data already hit the wire, with 35.2k jobs added in December and the Unemployment Rate dropping to 5.5%, beating analyst’s expectations. In the U.S, Retails Sales figures will print as will weekly Jobless Claim figures.
Upcoming Forex Events for January 14, 2010
EUR Interest Rate Decision Forecast 1.00% Previous 1.00%
USD Core Retail Sales (MoM) Forecast 0.30% Previous 1.20%
USD Retail Sales (MoM) Forecast 0.40% Previous 1.30%
USD Initial Jobless Claims Forecast 434.00K Previous 434.00K
Gold Picks Up $10 An Ounce
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