The Current Market Sentiment 30/6/2009
By Walid Salah El Din
30 June 2009 @ 09:05 am EDT
The US equities market could contain the currencies market sentiment again pushing the greenback down across the broad with improving of the investors' risk apitite which could push Dow up by 1.08% to close its first session this week at 8529 after its second consecutive week of losing after reaching this year high at 8875 on 11 st of this month from this recorded low on 9 th of last March when it reached 6469. By god's will, the market is expected to focus today on US June Chicago PMI which is expected to come at 38.3 from 34.9 in May and later this week on the pace of the US manufacturing recovery and the current recession impact on the US labor market in May. As we wait tomorrow for the US manufacturing index of June to be 44 from 42.8 in May and as this Friday is US is off because of the independence day, we have this Thursday the release of June US non-farm payroll which is expected to lose further 368k jobs and the US unemployment rate to increase to 9.6%. If we had weaker performances of these important indicators, the market expectations of a halting unreliable recovery can increase weighing negatively on the equities market and the risk appetite which can support the greenback.
This report has been prepared by FX Recommends. For more, go to
FX Recommends