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FX, Oil Eye Equity Inflection by: Ashraf Laidi
Posted: November 3, 2009 ET
Comments: 25
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Again as last friday, Yen strength outperforms USD strength during bad data. look at yen crosses EURJPY AUDJPY. Those who asked me questions about EURJPY, i gave them conservative resistacne at 134.70 which was broken. But the 135.80 right shoulder was never broken and now we're at 133.20s.

Ashraf

Rob, G20 non-issue for FX. Maybe Canadians will say something about loonie.

NZDUSD stubborn. resistance 0.73. looks like more DOWNSIDE in NZD against JPY as yen crosses are doing quite badlu.. again.. like last friday/

Ashraf

raj, the indications i get from oil and treasuries are negative for stocks. we can see 9700 support as pre-year end unwinding emerges.

Ashraf

Hello Ashraf where do u see the cable

Hey Ashraf,

Thanks for all your great tweets today! You're generosity is never overlooked.

Do you have any thoughts about dollar rhetoric coming out of the G20 this weekend? Seems to be a non-issue right now, and if it was, I would guess the remarks would be dollar-supportive.

Also, if you could give thoughts/targets on NZD/USD I'd appreciate it. Thanks again!

Ashraf,
can i expect DOw future at 9350 level?I short it at 9980 level.
regards,
Rajib.

waterville, after yesterday's gold-driven jump in EURUSD, i find it hard to see EURUSD below 1.46 tomorrow. The India factor on gold and FOMC remaining unchanged was criticial in supporting EUR. we'd need a bad selloff in equities for EUR to hot 1.46 tomorrow.

Ashraf

Hi Ashraf, Your webinar with Chris Lori was top notch--learning a lot. With S&P failing to close above 1047 today after big rally until the last 1/2 hour, do you still see EURUSD closing below 1.4600 this week? Thanks.

stone, if markets drop here, Aussie is teh best sell as it has suffered after unexpected decline in retail sales and last nights dovish rate hike. still resistance at 0.9140 unless US data comes up solid across the board today.

Ashraf

Hi Ashraf. Where do you see GBP/JPY bottoming please, and would that also be a good point to go long AUD. Many thanks.