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Oil Remains Flat While Gold Continues to Rise by GoLearnForex

The Dollar was relatively unchanged across the board yesterday with the DXY managing to stay afloat above 75 despite testing support just south of 75.  The Pound suffered a minor setback in its race to break resistance when Fitch, a rating agency, said the U.K economy stands in line to potentially be downgraded.

 

Global Equity Markets were flat as the DJIA average closed the U.S session up 20 points to 10,246.97.  There is a holiday in the United States today, so trading across the board we anticipate will be lighter.  Oil was flat on the day currently at 78.85 while Gold continues to climb currently at 1,108.65.

 

The economic data released are again light today with most release coming from the U.K reporting.  The U.K will release their quarterly inflation report although there is nothing to suggest any real surprises will show.  With the Pound retreating after testing resistance there is more room to the downside with a quite market today and given the U.K has the most data releases due out.

 

 

Upcoming Forex Events for November 11, 2009

 

GBP    Average Earnings Index +Bonus        Forecast    1.60%  Previous  1.60% 

GBP     BOE Inflation Report           

NZD    Retail Sales (MoM)     Forecast  0.50%  Previous  1.10%  

AUD   Employment Change  Forecast   -10.00K  Previous  40.60K