Intraday Market Thoughts

Archived IMT (2008.11.24)

by Ashraf Laidi
Nov 24, 2008 5:42

Equities rise across the board after US govt guarantess up to $306 bln in Citigroups assets against, as well as injecting extra $20 bln from the TARP package. JPY and USD are biggest losers. Particularly positive is CAD, which is expected to drag USD down to 1.25 from current 1.2680. I expect USDCAD to reach 1.24 before week's end in event of prolonged equity gains for the week. Watch for the $810 resistance in gold, a breach of which seen paving way for the seasonal reversals in forex mentioned in the latest article.


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