The SPX 500 sits about 8 points higher than Wednesday’s close on the S&P 500 (as of 8:38am ET). The US Unemployment Claims came in slightly better than expectations (367k actual vs. 371k estimate).
Equities look to open higher, which could cause the USD to consolidate while Euro fears temporarily subside. At 9:30am ET, Ben Bernanke will be speaking and this could cause some major volatility.
If equities continue to rally after the US open, be sure to watch the commodity pairs such as the AUD and NZD as they come off their lows.Remember to consider that the overall trend for May has been bearish for equities. Use proper risk management as the Euro lingers just below the 1.30 area.
