Alaron Currency Comment

CHICAGO - Apr 2/08 - SNS -- Following is the currency futures comment from Alaron Trading Corp.

The DX opened lower at 72.68 before rising on a stronger than expected ADP employment report, showing an increase of 8,000 new private sector jobs, vs. analysts Non-Farm Payroll Report showing a decrease of -40k to -70k, announced Friday morning. Prices rose to a morning Hi of 72.99, before comments from Fed Chrm Bernanke's testimony in front of Congress sent prices lower.  

The BP opened higher at 1.9690 as carry-traders took on additional risk in exchange for the 5.25% yield. Prices slid to a morning Lo of 1.9675 after the stronger than expected U.S. ADP private employment forecast boosted the DX. Comments by Fed Chrm.Bernanke sent the DX lower, sent the BP higher

The CD opened higher at .9816, touched a morning Hi of .9817 and drifted lower as BoC member Jenkins stressed the need for near term economic 'stimulus', rate cut.

The EC opened higher at 1.5550 and followed most other major foreign currency markets lower after the ADP employment data. Prices slid to a morning Lo of 1.5530, before rebounding   on DX weakness.

The JY opened lower at .9801 and slid to a morning Lo of .9795, before bouncing to a morning Hi of .9840 on DX weakness.

Bob Kozak

Alaron Research Team

800.462.4691

bkozak.com

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