Mixed Day for Global Equity Markets After Dubai’s Announcement by GoLearn Forex

It was a mixed day for the Global Equity Markets on Friday following Dubai’s debt default announcement the day before.  The markets in Asia continued to sell off while in Europe they apparently felt the exposure was sufficiently contained.  In the U.S on Friday after returning from Holiday the day prior, it was the DJIA’s turn to take some risk off the table as it closed lower by 154.48 points to 10,309.92 Opening session futures are pointing positive in premarket hours.

The United Arab Emirates (UAE) Central Bank issued a statement indicating they would offer financing to the local and foreign banks at 50bp over the 3month local benchmark rate.  This facility offered by the U.A.E C.B will ensure liquidity and restore some confidence in the market.

On the economic data docket for Monday we have a number items set to print out of the U.K.  However, forex traders will be analyzing Black Friday sales numbers as well as the ensuing weekend figures.  Currently, net sales figures look to be on par with last year.  Additionally for Monday, Euro-zone CPI will hit the wire as will Canadian GDP.

Upcoming Forex Events for November 30, 2009

EUR    CPI (YoY)     Forecast   0.40%  Previous  -0.10%
CAD    GDP (MoM)    Forecast  0.40%  Previous  -0.10%
USD    Chicago PMI     Forecast  53.00  Previous  54.20
AUD    Interest Rate Decision Forecast  3.75%  Previous  3.50%