by GoLearn Forex
The U.S Dollar came out swinging yesterday, surging .838 points on the DXY to close at 78.338. The Kiwi took it on the chin, giving up 1.86% as commodities sold off. The EUR was offered across the board for a 3rd day in a row as stops were blown out just below the 200 day MA. The EUR started the day just above 1.43 and finished down 2 big figures to 1.41.
Global Equity Markets were not spared either as a heavy sell-off prompted by continued poor earning from U.S corporations as well as China announcing a limit on bank lending in order to constrain the free flow of liquidity in the market place. On Wall Street, the DJIA tumbled 122.28, wiping out yesterday's advance, to close at 10,603.15. In overnight trading the NIKKEI bounced back as China announced greater than expected growth, and equity futures are once again pointing up for today. This will be a relatively quiet day for economic releases.
Upcoming Forex Events for January 21, 2010
EUR ECB Monthly Report
USD Initial Jobless Claims Previous 440.00K Forecast 444.00K
CAD BOC Monetary Policy Report
CAD Wholesale Sales (MoM) Previous 0.40% Forecast 0.30%