Intraday Market Thoughts

Archived IMT (2009.10.09)

by Ashraf Laidi
Oct 9, 2009 1:45

CANADA's Sep EMPLOYMENT report (7:00 am EDT 11:00 GMT) will be highly scrutinized for whether it will produce a net increase of jobs following the unexpected net increase of 21K jobs in August. Markets expect a net decline of 7K jobs and 8.8% unemployment rate from 8.7% in August. Last time Canada jobs showed 2 monthly net creations was in summer 2008. Considering the current positive risk environment, an increase of at least 3K jobs could well drag USDCAD towards 1.0470, especially if the unemployment rate remains unchanged, or declines. EURUSD still fails to regain $1.4860s. WATCH ASHRAF'S CNBC APPEARANCE


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