Archived IMT (2010.07.23)

7 of the 91 banks failed the Eurozone Stress Tests, whose scenarios included: -0.3% in 2010 and 2011 GDP, a double-dip recession, 20% decline in stock markets in 2010-11 and a 4-notch credit ratings downgrade of Eurozone securitized products. LISTEN TO ASHRAF's INTERVIEW discussing the Stress Tests http://link.reuters.com/syb39m #

Equity markets are little changed, while GBPUSD retains momentum to regain $1.5480s into early next week. EURUSD seen remaining supported at $1.2770 but with renewed chances to retest $1.2930.