Intraday Market Thoughts

Archived IMT (2009.04.02)

by Ashraf Laidi
Apr 2, 2009 9:39

Aussie and Nokkie leave all major currencies behind with the greenback and yen at the bottom of the currency chain as FTSE-100 rallies 2.5%, following Nikkeis 4.4% rise. Swiss franc tumbles as Swiss National Bank reiterates the need to intervene to limit further franc appreciation. UK construction PMI rose to 30.9 in March from 27.8, while German can registrations gain 20% in March. With improved risk appetite benefiting Aussie, Nokkie and sterling, these should continue to be favored plays against CHF, JPY and USD. Markets await ECB decision/press conference.


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