by GoLearn Forex
Global Equity Markets had another positive day on Wednesday. In the overnight, the Asia session finished lower as China raised yields on their Bills in attempt to curb quantitative easing measures. This will most likely weigh negatively on the London and U.S sessions. The DJIA finished Wednesday gaining just 1.66 points to close at 10,573.68. Since Monday's close the DJIA has only moved a net 10.3 points.
Gold advanced sharply as the Greenback continued to stall. Gold gained $20.40 an ounce to close at 1,138.40. Oil continued its strong push, finishing the U.S session at 83.18, a high not seen since October 2008. The Dollar continues to struggle to maintain momentum. The AUD gained .86% on the day while the CAD gained .64%. Only the JPY loss ground to the Dollar.
Already reporting in today are Australian Retail Sales, beating analyst expectations, coming in at 1.4% versus 0.2%. German Retails Sales also printed today, but missed expectations on both the Month over Month (MoM) and YoY figures. In the Euro-zone Retails Sales will hit the wire as well. In the U.K, the BOE Interest Rate decision is due out today, although no change is expected. It will be a quiet day in the U.S as only weekly Jobless Claims will print, but these numbers are still eyed closely by traders as a gauge for where Unemployment may print.
Upcoming Forex Events for January 7, 2010
CHF CPI (MoM) Actual -0.20% Forecast 0.10% Previous 0.00%
EUR German Factory Orders (MoM) Forecast 1.50% Previous -2.10%
GBP Interest Rate Decision Forecast 0.50% Previous 0.50%
USD Initial Jobless Claims Forecast 445.00K Previous 432.00K
CAD Ivey PMI Forecast 52.20 Previous 55.90
Positive Outlook for Global Equity Markets
DailyForex.com