The Dow reported a 379 point gain yesterday, a welcome rally of almost 6 percent. This was on the back of the Citigroup’s CEO statement that they are actually in profit. The Dow finished at 6,926.49 its highest close since late February.
In forex data releases a large increase in the Fed Govt Budget deficit is expected to be released today in the US and for those trading the NZD (good Income Generator trade at the moment) please note that the Official Cash Rate is expected to drop by 0.5 % this evening. Here in the UK our Trade Balance figures are due with a small decline expected. The release of Home Loan figures m/m in Australia this morning came in at 3.5% growth – indicative of an economy and a banking system not as deeply consumed by the credit crisis as the US and Europe.
