Intraday Market Thoughts

Archived IMT (2009.04.24)

by Ashraf Laidi
Apr 24, 2009 8:43

German IFO survey at 8 am GMT (9:00 London). Watch the Current Assessment/Situation component of the IFO survey whether finally rose from 82.7 after falling continuously since the summer. GBP drops across the board as reports crop up on a possible downgrade of UKs credit rating following the latest spurt in announced borrowing from Wednesdays budget. EURGBP regains 90 pence, while cable eyes $1.4580 and $1.4530. USDJPY extends losses below 97, whole gold regains $900, eyeing previous target of $922, silver targets 13.07 (55-day MA) i.e. trend line resistance from February high. Weekly Silver chart shows 13.60.


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