Intraday Market Thoughts

Archived IMT (2009.04.22)

by Ashraf Laidi
Apr 22, 2009 17:36

Closely watch stocks' struggle to hold on recent gains and the repsonse from FX, especially currencies which are vulnerable to risk aversion (GBP, NZD, CAD, AUD and EUR). EURAUD is an example of a risk aversion trade seeking prolonged gains, targetting 1.8830s from current 1.8340 in the event of falling US equities and negative repsonse in Asia. FTSE-100 closed at 4,3030, 30 points below the right Shoulder resistance. Expect weak bias in CAD to prevail ahead of tomrrow's CAN retail sales and BoC policu update.


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