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15:15 2007/04/05
Indices hold ground ahead of jobs data
US equity markets opened a little lower but have steadied in recent trade. WEBM is higher by 25% after announcing a deal with Software AG of Germany. Shares of CUTR are off 30%, or close to $12 after cutting Q1 guidance. Treasury futures are fractionally lower as traders await tomorrow??™s March payrolls and unemployment data. July Fed funds still put the odds of rate cut this spring at less than 50%. The 10-year yields 4.65% while the 2-year yields 4.6%. The Dollar came under some pressure after the EUR/USD pushed through March highs to make a new 2-year high at 1.3353. The Loonie is also posting strong gains against the Greenback after the report of a jump in Canadian March jobs. USD/CAD is off 0.8% to 1.15. Dollar weakness has helped metals futures stay in positive territory while May crude futures are testing session lows around the $64 figure.
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