Archived IMT (2010.10.08)
THURSDAYs MARKET MOVES were mostly in consolidation zone ahead of the Big Day aka US jobs report, leading markets to retreat from the recent extreme weakness in USD, and strength in equities/fixed income/commodities. Just as we have always seen markets consolidate ahead of FOMC decisions, the same occurs ahead of Non Farm Payrolls, especially after markets had pushed to extremes. But overall levels continue to hold, OIL remains well above the 200-week MA of $78, USDCAD below 1.02 and EURUSD supported comfortably above the $1.38 trendline. Moodys said it is reviewing China for a possible credit rating upgrade, which helped Asian markets at the expense of the USD. Having said, however, Gold finally posed its biggest daily decline since late July. Stay tuned for the key CANADA and US JOBS report, see calendar here http://www.ashraflaidi.com/economic-calendar/ I am in Stockholm for 4 day expo, so updates will be more frequent than usual, but do follow me on TWITTER for faster, easier access to my INTRADAY INSIGHTS http://twitter.com/alaidi as this promises to be a highly volatile day. *** REGISTER FOR MY SEMINARS IN MADRID *** (Oct 14) & BARCELONA (Oct 19) http://bit.ly/dvoXWR
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