Archived IMT (2010.06.14)

FROM PRETORIA: Ashraf attending the World Cup but finding time to tweet (twitter.com/alaidi) and send some IMTs. Just when the euro was extending its rally on broadening risk appetite, Moody's hits Greece with a downgrade into junk status. EURUSD loses a full cent from its $1.23 high despite managing to post its first 4-day winning streak of the year. The next obstacle is to close above $1.2320 (will explain later rationale). We may be on vacation but won't forget the importance of a close above 1107 in SP500 and 10290 in Dow-30. GBP traders watch tomorrow's CPI figures. See http://ashraflaidi.com/economic-calendar/