Friday, 6 August 2010

Payrolls , EURUSD update.

Well the NFP payrolls did not look too great at a first glance, however at a second glance taking into account the revisions, they looked even worse.  -- EURUSD has flown, with regard to earlier EURUSD analysis it looks as though the upside is going to win, the high so far is 1.3283. If it can hold these gains this afternoon, the odds favour further gains next week.  - With regard to the Bund, it has broken through the 129.86 level, if these gains can hold, then further upside next week looks on the cards.  - Stocks should have an uncomfortable afternoon, however, just do not know what to expect these days, on the face of it this should be ugly for stocks, unless they take the view that there is increased odds of the Fed Cavalry riding to the rescue with QEII.

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