Archived IMT (2010.03.04)

Bank of England keeps makes no statement at its interest rate decision. Preliminary demand orders for Greeces 10-year bond offering reached 16 bln. It is not clear when the bond offering will actually take place. France says a Franco-German aid for Greece is NOT on the agenda, which fuels speculation that Greece will seek assistance from the IMF, in which case would be a positive for the euro. We stick with the $1.3770 interim resistance followed by key ceiling at $1.3850, while renewing our call for the $1.32 target before end of quarter. AUDUSD failure to breach above the 100-day MA of 0.9065-70 level (did not close above it) is consistent with our alert for emerging risk aversion (as was the case in the week of Dec 1). Watch Ashrafs Video Presentation on Gold at Cantos Charts http://cantos.com/charts