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Date Posted: 01:04:02 08/03/12 Fri
Author: Charisse Bartoli
Subject: Kiwi leads cautious rebound

Markets have a bullish edge this morning, as traders look to unwind some of the reaction (over reaction) to yesterday's ECB press conference. This morning's reaction will be tentative, as we have small matter of US Non Farm Payrolls to come at 13.30. The US dollar index is slipping lower after pushing back towards the highs yesterday.


The NZD/USD and AUD/USD are leading the rebound this morning, though there is little movement to speak of away from these currencies with the exception of the USD/CAD, another commodity currency which is moving down by around 0.2%.


Coming up today we have UK services PMI at 09.30 with a rise to 51.6 expected. European retail sales follow at 10.00.
We then have the day's main event; US Non Farm Payrolls at 13.30 with a rise to 101K expected. The unemployment rate is expected to remained unchanged at 8.2%. ISM Non manufacturing PMI follows at 15.00.

World markets sank yesterday ahead of today's Non Farm Payrolls, something that could bode well for today's market. In four of the last five occasions that markets dropped before NFP, stock markets rose the next day. As a key barometer of risk, the AUD/JPY could be a key pair to focus on here. Despite the recent bearish pressure, the AUD/JPY has held its recent gains well and could be well primed for a pop higher if the NFP trend continues.


A good way to play this on BetOnMarkets.com might be a HIGHER trade predicting that the AUD/JPY closes above 82.75 on Monday (3 days) for a potential return of 144% if successful.

Get this trade now, go to: http://goo.gl/fLs8A

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