Global Equities Market futures are pointing slightly higher for Wednesday’s open. The DJIA finished lower after a mixed day on Wall Street, losing 17.24 points to close at 10,433.71. The Fed conceded in minutes released yesterday that a weak dollar may be fueling unwarranted speculation in the markets and that the weak dollar needs to be monitored for fear of creating inflationary conditions.
The DXY was mixed as it responded to the equity market’s whiplash. The Gold rush of 2009 continues at it made new intra-day highs bouncing off 1,180.20 before closing at 1,169.40. Oil gave up some ground to close at $76.45 a barrel.
We are expecting lighter than normal volumes today ahead of the U.S Holiday on Thursday although there will be a lot of economic data published tomorrow. Headline data prints will focus on U.K GDP and in the U.S; Crude Oil Inventories, Initial and Continuing Jobless claims, and New Home Sales.
Upcoming Forex Events for November 25, 2009
GBP GDP (QoQ) Forecast -0.30% Previous -0.40%
USD Core Durable Goods Orders (MoM) Forecast 0.80% Previous 0.90%
USD Initial Jobless Claims Forecast 500.00K Previous 505.00K
USD New Home Sales Forecast 408.00K Previous 402.00K