Greg Secker – Global Market Update

Yesterday, notes Mr Secker, the FTSE 100 closed up 19 points and formed the first green bar for 5 days. The Dow closed up 6 points and rallied into a previous support at 8,235. In forex news the dollar fell against the yen on speculation the G-8 leaders may question the dollars status as the world’s reserve currency. The Bank of England kept rates steady and did not announce any changes to the existing asset purchase program which pleased the market. Heavy news on the CAD is due at midday with the unemployment rate and then the trade balance.  USD trade balance is also due at 1.30pm.