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FX Levels for Today. July 2, 2009

Thu, Jul 2 2009, 01:54 GMT
by Abdul Khan

Income Generation Strategies


Overview

Disappointing ADP report out last night, suggests tonight's Payrolls data could show about 500k job losses for the month. What is China thinking - talking up a new reserve currency again last night?

With the 4th July holiday coming up this weekend, im expecting the market action will wind down shortly after Payrolls is released today

Best to trade for small gains in this sort of market.

Gold bounced overnight on the back of the USD weakness, but remains range bound like the rest of the market, between 925-945

For those interested, I will be presenting webinars for FX Street every Friday at 0500GMT. Hope to see/hear you there.

Data for Today

EU: PPI

EU: ECB Meeting

US: Non-Farm Payrolls

US: Factory Orders

Trades for Today

USDJPY: Sell a break below 96.20

Email for details regarding stop-loss and profit targets. You can also now get me on twitter at:

http://twitter.com/forexplus


Archive

Income Generation Strategies  | Level 26, Waterfront Pl. 1 Eagle Street, Brisbane, Qld. 4001
http://www.incomegenerationstrategy.com/ | abdul.khan@tricom.com.au

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