Thursday, March 03, 2005

Dollar Stable looking toward Employment number

Little movement overnight as the market awaits the U.S. employment number tomorrow morning (expecting 225,000). Weaker numbers in the U.K. (U.K. services survey) and Australia (poor Retail Sales) allow me to continue to look for these currencies to weaken against the dollar over time. I would not be aggressively long U.S. dollars presently, but rather I am waiting to see tomorrows number before taking any sizable positions. For today I will be looking for a level to short Aud (.7855-65) and Gbp (1.9125-35). I am not looking for any big moves today. Good Luck.....

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