Intraday Market Thoughts

Archived IMT (2009.10.02)

by Ashraf Laidi
Oct 2, 2009 17:47

There are no fundamental explanations to the sustained market rebound in equities and risk currencies. But the ensuing rallies in EURUSD, GBPUSD, AUDJPY and other risk pairs remain well within their resistance levels. The action in FX is largely a reflection of the rebound in stocks. More importantly the new lows for the month put in EUR. GBP and AUD could be used as an easier incentive for the bears to drag these pairs back.VIX seen again closing above its 100-day MA. GBPUSD showing its usual pullbacks after peaks seen in later London trade. Deadline for Saturday's Webinar registraton closes at 15:00 EDT (19:00 GMT)


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