Intraday Market Thoughts

Archived IMT (2010.03.31)

by Ashraf Laidi
Mar 31, 2010 16:04

The unexpected 23K decline in ADP is weighing on USD across the board, while the retreat in stocks is boosting JPY (dragging down yen crosses). $1.3550 in EURUSD remains the required break for the week in order for the rebound to ensue. Profit-taking at the last day of the quarter throughout Europe could also accelerate US losses but the more downside should take place in the event of actual net loss in March NFP. US crude still unable to regain $83.00, while gold has to close the day above $1117 to garner further upward action towards $1127.


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