Intraday Market Thoughts

Archived IMT (2010.03.10)

by Ashraf Laidi
Mar 10, 2010 12:44

RBNZ RATE DECISION, AUSSIE EMPLOYMENT figures and SWISS NATIONAL BANK decision will be the source of potentially KEY MOVES IN FX as traders find clues for further improvement in the high yielders or a pullback off their 2 month highs. Seel Link for delatiled caledar of these events http://ashraflaidi.com/economic-calendar/ RBNZ decision expected to keep rates unchanged at 2.50% but watch for any dovish language considering the recent strengthening of the currency. Aussie employment have been stellar in terms of both falling unemployment rate and rising employment change, which means that any retreat in the figures could weigh on the Aussie especially if CHINESE data raise speculation of further PBOC TIGHTENING. Speculation that tomorrow's SNB policy decision may not sound the same urgency in capping the franc as in previous quarters, which could drag support CHF vs. AUD and EUR. REMAIN ALERT from the possible combination of any disppointment in US RETAIL SALES on Fri and faster tigthening signs from China. Meanwhile, nothing comes out from Greece, Washington, Germany except mixed statements about the EMF.

 
 

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