Intraday Market Thoughts

Archived IMT (2009.08.07)

by Ashraf Laidi
Aug 7, 2009 14:05

The first decline in the US unemployment rate since April 2008 and the smallest loss in payrolls since August 2009 are broadening the rally in the US dollar, to the extent of breaking down the intraday inverse relation between equities and the greenback. This is also breaking down the inverse relation between bond yields and the USD, as both rally on improved economic prospects. Yen loses across the board as equities rally and risk appetite improves. Will commodities remain pressured due to USD rebound?

 
 

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