Archived IMT (2010.01.08)
USD STABILIZING Although the 85K loss in US Dec payrolls was worse than expected, the figure followed not only a net positive creation of 4K jobs in November (revised from -11K) but also emerged after 5 consecutive monthly improvements in payrolls (Jul-Nov), which was not seen in any of the recoveries of 1991 or 2003. Current positioning in credit markets lends support for prolonged USD strength as US 10-year yields hold above their 3.75% support (since Nov 27). Both USDJPY and US10- yr yields hold at 3 week trend line support at 92.20 and 3.75% respectively. USDCAD holds at 1.030, looking to regain 1.038, while GBP extends loses across the board, driving down cable, eyeing $1.5940 TL support. THANKS FOR VOTING ME. If you voted for me in #finance, please consider other categories such as #education #news #nonprofit using the pulldown menu
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