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US Morning Notes

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NFP Report and ECB Press Conference Dominates Trade

Thu, Jul 2 2009, 12:14 GMT
by Easy Forex Team

Easy Forex


FX Highlights

  • The YEN and the US dollar gain ground before NFP news likely will reveal 26 year high in unemployment rates.

  • EUR/US dips to fresh lows on Moody’s downgrades its credit rating on Ireland.

  • The EUR/YEN rally appears to have met resistance at 135.38 possibly halting the uptrend since January.

  • The YEN down ahead of US payroll figures as demand for the riskier assets rise. Volatility hits a 9-month low.

  • GBP mixed as the Office of national Statistics suggest UK GDP down 2.4% for the first 3 months of the year.

  • Pre-Open stock futures indicate lower open with S&P and DOW futures lower.

  • OIL prices lower along with the rest of the energy complex.


Upcoming Events

  • Initial Claims expected at 615K, NFP- expected at -363K,

  • Unemployment rate at 9.3%

  • Factory orders expected at 0.8

  • ISM Non Manufacturing Index expected at 45.5

Published on  Thu, Jul 2 2009, 12:20 GMT


Archive

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