Intraday Market Thoughts
Archived IMT (2010.04.02)
by
Apr 2, 2010 17:51
WEEK HAS ENDED with the euro failing to break above that $1.3550 level and cable not able to break $1.53 as these technical parameters prove essential in commanding the overall USD trend against European currencies. US jobs figures showed a net increase of 162K while the unemployment rate held unchanged at 9.7%. Considering the upcoming rate hike by the Fed and improved US jobs figures, these fundamentals will continue dragging down the German-US yield disadvantage. Meanwhile, AUDUSD, which rose ahead of next weeks anticipated RBA hike still fails to break above 0.9230. Although hasnt broken above 1127, oil prices have rocketed past $85 partly on signs of a stabilizing global economy (China, EU and US data).
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