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Archived IMT (2009.11.04)

by Ashraf Laidi
Nov 4, 2009 9:48

Dollar falling across the board as European equities recovery ground. Stronger than expected Oct UK services PMI at 56.9 from 55.3 lifts GBPUSD above 1.6530, eyeing interim resistance at 1.6580-85-- the right shoulder resistance from the Oct 30 high. Oil eyeing that 80.40 resistance and USDJPY seen extending gains towards 91.25. CADJPY eyes resistance at 86.25 trend line. While much talk circulates about todays FOMC decision, we caution ahead of the ADP report (13:15 GMT) and Oct services ISM (15:00).

 
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