Equity Futures are mostly negative tonight suggesting a slightly lower open. This weekend saw the board of governors from the G-20 assemble. Although a number of important topics were discussed there was agreement amongst the board that economic stimulus should not be removed until further signs of a steadied economy are present.
We closed out last week with a bang as U.S Unemployment printed worse than expected to 10.2%. This obviously concerns investors that if unemployment does not at least bottom it could derail the already fragile economic recovery.
There was a slightly quieter week this week on the data front. We will be watching the Canadian Housing Starts for October. Although we do not expect any surprises here, nonetheless the CAD is quite volatile these days.
Upcoming Forex Events for November 9, 2009
CAD Housing Starts Forecast 155.00K Previous 150.00K
JPY Bank Lending (YoY) Previous 1.60%
GBP RICS House Price Balance Forecast 29.00% Previous 22.00%
AUD NAB Business Confidence Previous 14.00