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US Markets finish the Day Slightly Ahead by GoLearnForex

In Asia, Equity Markets were down while in London and in the U.S markets finished the day slightly ahead.  This is coming on the heels of a horrendous close on Friday in the U.S and CIT's bankruptcy filing over the weekend.  Equity Futures in Asia are pointing to a slightly higher open for Tuesday while London Futures are modestly lower.

 

The Dollar was slightly off against the G-10 mirroring the DJIA small advance today of 77 points.  Oil closed today mostly unchanged while Gold soared again to 1,054.  In the U.S the ISM Manufacturing figures printed smartly better than expected coming in at 55.7 versus expectations of 53.  In addition, the Pending Home sales figures surprised to the upside at 6.1% against expectations of 0%.

 

This is a busy week for economic data releases.  Due out tomorrow will be the RBA Rate decision.  The current rate holds at 3.25% and market consensus is looking a quarter point hike to 3.5%.  In the U.S, Factory Order numbers are set to print.  A positive show will confirm today's ISM numbers while a below consensus read will cast doubt on the durability of the ISM figures from today.

 

Upcoming Forex Events for November 3, 2009

 

GBP    Construction PMI       Forecast   47.20           Previous  46.70 

USD     Factory Orders (MoM)          Forecast  1.00%          Previous  -0.80%  

AUD   AIG Services Index    Previous   49.30 

GBP    Nationwide Consumer Confidence    Forecast  72.00            Previous  71