BULLETIN OF THE MORNING: The Dollar rose in early trading in 2010.

[RTFX-Trading]

BULLETIN OF THE MORNING: The Dollar rose in early trading in 2010.

What’s new:
Japan: Japan Airlines jumped on government intervention.
China: The PMI manufacturing index at its highest level in 20 months.
United States: weekly jobless claims at its lowest in 17 months.
Eurozone: Smaghi (ECB) expects a rise in unemployment in 2010.
Dubai: Inauguration of the highest building in the world.

Today:


Rates in Asia and Indices:
EURUSD: 1.4337 - 1.4257.
USDCHF: 1.0397 - 1.0340.
EURUSD: 1.6154 - 1.6062.
EURJPY: 133.28 - 132.38.
USDJPY: 93.08 - 92.69.
Dow Jones: 10’428 -1.14%.
NASDAQ: 2'269 -0.97%.
S & P 500: 1'115 -1.00%.
Nikkei: 10'654 +1.03%.
Shanghai: 3'267 -0.28%.
Gold: $1'102.
Crude oil: $80.11.

Comments:
Japan Airlines is saved by government intervention, JAL had lost a quarter of its value last week; investors feared bankruptcy. This is the first big warning for 2010; some analysts predict that the aviation sector will be strongly affected by the crisis.

Side statistics in the US: investors will pay attention to figures of the non-agricultural employment on Friday, which should set the tone for the beginning of 2010. They also watch the ISM index of manufacturing and services in December, construction spending and factory orders.

In the first trades of 2010, the Dollar strengthened against the Euro and the Pound in favor of speeches of the president of the US Federal Reserve about interest rates, and also recovers from low points reached against the Yen. Demand for the greenback is fueled by the idea that a rise in long rates in the United States would encourage investors to buy Dollar assets. The Dollar's rise began in December, ending a downward trend in place for nearly a year; following the decision by the Fed to begin quantitative easing.

Have a good day.

Nicolas Longchamp
RTFX Ltd
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