Intraday Market Thoughts

Archived IMT (2009.06.03)

by Ashraf Laidi
Jun 3, 2009 12:59

Dollar gains on supportive remarks from China, Japan, South Korea and India stating there are no alternatives to the USD as a main reserve currency. Dollar also supported by equities inability to rally after stronger than expected PMI figures from the UK. FTSE-100 remained well in the red despite UK PMI services regaining the 50 level for the first time since April 2008. US May ADP on private payrolls (12:15 GMT) expected -530K from -491L, while May services ISM (14:00) expected at 45 from 43.7. Bernanke to speak at 14:00. HOTCHART on EURUSD now up.


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