CMC Markets Weekly Report - 5th January 2009
Last Friday, US stocks rallied in the first trading day of 2009. The Dow closed above 9000 for the first time since early November. At the close, the Dow was up 2.9% to close at 9034, the Nasdaq up 4.3% to close at 1263.70 and the S&P500 closed up 3.16% at 931.80.
In the week ahead, on Monday, we have German Retail Sales and Euro-zone Sentix Investor Confidence for January. On Tuesday we are expecting inflation figures for Euro-zone, US pending home sales, ISM Non-manufacturing Index as well as minutes from the US Federal Open Market Committee.
On Wednesday, locally, we have Retail Sales figures coming out. In the Euro-Zone, Producer Price Index and change in German unemployment numbers are due.
In Australia on Thursday, trade balance and building approval numbers are out. Trade balance numbers are also out for Germany. We are also expecting a rate decision from the Bank of England and Euro-zone unemployment numbers.
Friday will have Euro-zone retail sales. Producer Price index is expected to come out of the UK, and the all important Non- Farm Payrolls out of the US.
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