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- New York 13:07
- London 18:07
- Barcelona 19:07
- Tokyo 03:07
- Sydney 05:07
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Asian Session: NFP's disappoint as ECB stays put on rates – low volumes today for 4th July holiday
Fri, Jul 3 2009, 09:58 GMT
by Peter Rosentreich
ACM - Advanced Currency Markets
Market Brief
NFP’s disappoint by showing a -467K decline in payrolls, 100K more than the consensus. This underlines the vast layoffs from the GM and Chrysler debacle and the continuing difficulty to revive the economy. The EURUSD dropped from it’s high 1.41’s as low as 1.3930 before rebounding. While the pair broke it’s range momentarily only a healthy breakout below the 1.3900 support will prove sufficient for a substantial move.
The ECB kept rates at 1.00% followed by an uninspiring press conference by Trichet. No comments on whether the rates would fall further but it was clear that no hikes would come before 2010.
Volumes will inevitably be low today as the U.S is off for a pre-4th July holiday. We expect currencies to stay in tight ranges but large funds, sovereign or private entering the markets could provide large moves.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 9816 | -0.61 |
| Hang Seng Index | 18203 | 0.14 |
| Shanghai Index | 3088 | 0.92 |
| FTSE 100 Index | 4236 | 0.06 |
| DAX Index | 4718 | -0.28 |
| DJIA futures | 8251 | 0.12 |
| Nasdaq futures | 1445 | 0 |
| World Markets | Current Level | % Change |
| Gold | 9331.88 | + 0.23 |
| Silver | 13.415 | + 0.15 |
| VIX | 27.95 | + 6.60 |
| Crude wti | 66.41 | - 0.48 |
| USD Index | 80.307 | + 0.20 |
| Todays Calender | Estimates | Previous | Country / GMT |
| - |
Currency Tech
AUDUSD
R 3: 0.8375
R 2: 0.8263
R 1: 0.8150
CURRENT: 0.7990
S 1: 0.7985
S 2: 0.7930
S 3: 0.7900
EURJPY
R 3: 139.20
R 2: 138.33
R 1: 136.46
CURRENT: 134.25
S 1: 134.00
S 2: 133.61
S 3: 131.41
USDSGD
R 3: 1.4800
R 2: 1.4748
R 1: 1.4649
CURRENT: 1.4515
S 1: 1.4454
S 2: 1.4385
S 3: 1.4334
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
Published on Fri, Jul 3 2009, 10:08 GMT
Archive
- European Session: Waiting on NFP
Published On Fri, Nov 6 2009, 09:55 GMT - European Session: FOMC Signals Low Rates To Continue Contingent On Employment And Inflation
Published On Thu, Nov 5 2009, 08:22 GMT - European Session: All Eyes on the FOMC
Published On Wed, Nov 4 2009, 10:38 GMT - European Session: RBA Hikes Rates Again But Moderates Hawkish Tone
Published On Tue, Nov 3 2009, 08:42 GMT - European Session: CIT Bankruptcy Shakes Risk Appetite...Briefly
Published On Mon, Nov 2 2009, 09:45 GMT
Advanced Currency Markets, S.A.
| 50 Rue du Rhone CH-1204 Geneva
http://www.ac-markets.com | support@ac-markets.com
Legal disclaimer and risk disclosure
This report has been prepared by AC Markets and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by AC Markets personnel at any given time. ACM is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.Related reports
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