Daily Forex Snapshots

European Session - NFP in Focus

May 02, 2008 10:57 AM CEST

G10 Advancers and Decliners vs USD

	GBP	0.50
	NZD	0.30
	NOK	0.26
	SEK	0.13
	DKK	0.07
	EUR	0.05
	CHF	0.05
	CAD	0.03
	AUD	-0.34
	JPY	-0.36

Global Indexes

Current Level

% Change

Nikkei 225 Index	14,049.26	+ 2.05
Hang Seng Index	26,272.65	+ 2.00
Shanghai Index	3,693.11	+ 4.81
FTSE 100 Index	6,136.80	+ 0.80
CAC 40 Index	5,034.83	+ 0.76
SMI Index	7,604.42	+ 1.00
DJIA futures	12,991.00	- 0.01

World Markets

Current Level

% Change

Gold	854.49	+ 0.21
Silver	16.23	+ 0.21
VIX	18.88	- 9.18
Crude wti	112.25	- 0.24
USD Index	73.24	- 0.04

Todays Calender

Estimates

Country / GMT

Change in Non-Farm Payrolls (Apr)	-75,000	-80,000	US / 13.30
Unemployment Rate (Apr)	5.2%	5.1%	US / 13.30
Average Hourly Earnings (Apr)	+0.3%(+3.6	+0.3%(+3.6	US / 13.30
Average Weekly Hours Worked (Apr)	33.7	33.8	US / 13.30
Factory Orders (Mar)	+0.2%	-1.3%	US / 15.00
Tur CPI (Apr)	+1.5%(+9.4	+1.0%(+9.2	TUR / 15.00

Currency Tech

AUDUSD
R 3: 0.9496
R 2: 0.9473
R 1: 0.9445
CURRENT: 0.9303
S 1: 0.9272
S 2: 0.9249
S 3: 0.9206

EURJPY
R 3: 163.88
R 2: 163.25
R 1: 162.46
CURRENT: 162.04
S 1: 160.60
S 2: 159.83
S 3: 159.70

USDSGD
R 3: 1.3887
R 2: 1.3746
R 1: 1.3659
CURRENT: 1.3635
S 1: 1.3554
S 2: 1.3470
S 3: 1.3318

Market Brief

Usd was weaker in European Session as markets bracing for weaker then expected payroll figure. It was a day of substantial gains in the US equity markets on Thursday, as much of the world was on holiday.
The S&P500 rose 1.7%, while the NASDAQ rose 2.8%. Eight of the ten sectors rose, led by Financials (+3.9%), Consumer Discretionary (+3.3%) and Info Tech (+3.2%). Energy (-2.2%) was the main decliner, as Exxon (-3.6%) missed numbers and crude sold off another 2%. Gold and other commodities were also lower, as the dollar rose vs most currencies. Financials strength was seen in all regions, with large cap and regional banks higher. Asian stocks are higher this morning, with the region's benchmark index hitting its highest level in three months. The Nikkei is up 2.2%, the Hang Seng is up 1.9% and the MSCI A-P is up 1.6%. The dollar has continued its mini-rally, while the Japanese manufacturers rose after they hit record market share in the US in April, following the vehicle sales released, with Asian brands hitting 44.7%

Markets will be waiting for US Non Farm Payrolls before closing the week. Given the recent economic data (barring an overly optimistic ADP) the risk are clearly skewed to the downside. The latest weekly data on jobless claims were soft and the labor market components of the consumer confidence surveys have moderated significantly. Traders should begin to consider the market reaction should US data continues to weaken and Ussd bullish sentiment wears off.

ACM Advanced Currency Markets SA (hereinafter referred as ACM) is a professional financial intermediary, directly regulated by the Swiss Federal Department of Finance, Anti Money Laundering Control Authority. As forex specialist, ACM provides only currency trading via highly professional forex trading software. All customers are aware that this information or any part thereof has been prepared without taking account of your objectives, financial situation and/or needs. This information is not intended as personalized investment advice and does not constitute a recommendation. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. The analysis is based on the information which ACM finds reliable and accurate, but ACM does not assume any responsibility for any material nor for the transactions made on the basis of the information or the estimates of the analysis. ACM cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct, indirect and/or consequential loss arising from any use of this information, document or its content. All opinions and estimates constitute ACM analysis as of the data and are subject to change without notice. ACM does not warrant the accuracy or completeness of information contained herein, such information is subject to change and is not intended to influence your investment decisions. Past performance is not a reliable indicator of future performance.

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