The Euro rose against the Dollar following the announcement from Dubai that they were getting bailed out by their oil rich neighbor Abu Dhabi. With fears of a default receding, investors bought currencies that paid a higher rate of interest than the greenback. Eyes will now look towards the FED interest rate decision, scheduled fo0r release on Wednesday.
- Dubai announced that they were receiving a $10bn bailout from Abu Dhabi
- US producer price data for November is released on Tuesday
- Be aware that the Federal Open Market Committee meet on Tuesday and announce Interest Rate decision on Wednesday
Major Economic News
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