by GoLearn Forex
Stocks finished last week on a sour note as both the European and U.S sessions ended Friday considerably lower. On Wall Street, the DJIA tumbled just over 100 pts to 10,609.65 on worse than expected earnings from JP Morgan and Alcoa.
The Dollar gained back some ground lost over the last week. While the Aussie fell the most at .97% to .9228. The DXY enjoyed its first up-tick in 6 sessions to close at 77.323, just above the 100 day Moving Average. Gold fell almost $12 to 1,130.93 and Oil finished the week at $78 a barrel after starting the week just above $82.50.
There are a number of Canadian economic prints due out later this week, however for Monday there will not be any market movers elsewhere within the G-10. On Tuesday, the BOC will announce its Interest Rate decision, although no change is expected, we do expect the usual rhetoric regarding currency appreciation weighing on the Canadian economic recovery.
Upcoming Forex Events for January 18, 2010
EUR Italian Trade Balance Forecast -0.71B Previous -0.71B
CAD Foreign Securities Purchases Forecast 5.20B Previous 5.81B