Abu Dhabi Sending Financial Aid for Dubai World

World Equity Markets gained some ground Monday amid assurances from Abu Dhabi that they would provide $10 billion in immediate financial aid to ensure Dubai World meets its $4.1 billion debt obligation due yesterday.  The DJIA closed a shade above 10,500 after picking up 29.55 points.

The Greenback gave up a little ground yesterday as the DXY was down marginally to 75.352.  Gold advanced slightly to 1,126.70 as the dollar showed some weakness. Oil was unchanged as it continued to hold below $70 a barrel. 

In the U.K CPI data is set to print today.  The Euro-zone’s Current Sentiment/Survey will publish today.  In the U.S a number of economic releases are slated for today; Crude Oil Inventories, Gasoline Inventories, Total Net TIC Flows, Empire Manufacturing Index, and lastly PPI figures will print.  In light of the Dollar’s recent rally expect that traders will be watching these numbers very carefully ahead of tomorrow’s FOMC rate decision.

Upcoming Forex Events for December 15, 2009

EUR    German ZEW Economic Sentiment    Forecast  50.20  Previous  51.10
CAD    Leading Indicators (MoM)    Forecast    0.60%  Previous  0.70%
USD    TIC Net Long-Term Transactions     Forecast    43.00B  Previous  40.70B
AUD    GDP (QoQ)      Forecast  0.40%  Previous  0.60%