The Dow Jones Industrial Average had the first two-day gain in two weeks to 13,463.33 and the S&P500 rose to 1,472.20 causes the investors to resume the carry trades both to global equity and to high yielder currencies.
EUR may gain against the dollar after the ECB President Trichet said at the post meeting press conference that “strong vigilance is of the essence”, which is a clear signal of a Sep rate hike.
Today USD may be under pressure as market eyeing for US July Non-farm payroll report, which may be weaker. This is due to earlier US ADP report on Wednesday, which came in at 48k, weaker than expectations of 100k.
Buy AUD/JPY at 101.85 for target 105. Stops at 100.47
DOMAINS YAHOO FOR CONFERENCE CALL SERVICE
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