Intraday Market Thoughts

Archived IMT (2010.02.03)

by Ashraf Laidi
Feb 3, 2010 13:02

Jan ADP survey on private payrolls(13:15 GMT) is expected to show a loss of 40K jobs in January following a loss of 84K jobs in December. This would be the best figure (smallest job loss) since January 2008. USDJPY is USD pair most susceptible to US figures, gaining on strong US figures and falling on weak figures. USDJPY remains largely in the 90.10-90.80 range, with only predominantly negative US data seen as the catalyst for a break below 89.90. As long as US figures show the expected improvement, USDJPY could hold above 90.40s and attempts to retest 90.90-91.10.


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