Archived IMT (2009.12.02)

Bigger than expected build in EIA crude inventory drags down oil below 77, cable fails to break $1.67, AUDJPY never succeeded in closing above the 81 resistance and risk appetite remains unconvinced until a broadly positive US jobs report comes in the pipeline. USDCAD eyes 1.0530, while CADJPY eyes 62.70. Markets raising the bar of hope, expecting US payrolls to drop by 120K, following -190K, while unemp rate seen unchanged at 10.2%. Beige book unexpected to be a market mover. Tomorrows services ISM will be key as its expected at 51.5 from 50.6. Shorts could look into 81 on AUDJPY, 64 on NZDJPY and 146.50 on GBJPY as starting points for new positions. MORE TRADES ON TWIITER twitter.com/alaidi