Intraday Market Thoughts

Archived IMT (2010.03.31)

by Ashraf Laidi
Mar 31, 2010 8:23

Today's March ADP rport (12:30 GMT) is an appetiser for what could be the first net creation of US jobs since December 2007, expected to show arise of 40K in March from -20K in February. Signs of improved US labour markets were seen in yesterday's consumer confidence, whose perceptions index (jobs plentiful minus jobs hard to get) reached the best level since August 2009. EURUSD weighed by concerns with Greece reopening of its 20-year bond as well as falling Asian equities. What was a resistance of $1.3550 is now prelimin ceiling at $1.3470, with downside target standing at $1.3320. AUDNZD shows gradual descent in its daily chart, suggesting 1.2810, followed by 1.2770.


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