Gold Advances – Again by GoLearn Forex

Commodity currencies rallied today with the AUD gaining 1.03% on the Greenback while the Pound gave up nearly 3/10th of a percent.  The EUR and CHF were basically flat on the day.  Speculation in the market about European exposure to Dubai kept the respective currencies in check.  Gold advanced $1.20 to 1,178.90 and Oil picked up $1.15 to close at 77.18. In the Agricultural space Corn, Wheat, and Soybeans were up strongly as well.

Global Equity Markets were mixed as Asian markets advanced while European markets gave up Friday’s premature gains.  In the U.S the DJIA picked up 34.92 points to close at 10,344.84.  Normal trading volumes are expected to resume tomorrow.  Futures at the moment are mixed with Asian markets looking to give back Monday’s gains while European markets look set to advance.

On the data docket for Tuesday we have the RBA set to announce its interest rate decision.  The market is looking for another quarter point hike to 3.75%. In Switzerland GDP is set to print.  In the Euro-zone, German Unemployment Change is due out with analyst expecting a positive print.  In the U.S. ISM Manufacturing figures will be publish and expectations are for a 55 figure.

Upcoming Forex Events for December 1, 2009

JPY    Interest Rate Decision     Actual  0.10%   Previous  0.10%
CHF    GDP (QoQ)        Actual  0.30% Forecast  0.30%  Previous  -0.30%
JPY     BOJ Press Conference
USD     ISM Manufacturing Index     Forecast    54.80  Previous  55.70