Intraday Market Thoughts

Archived IMT (2009.04.29)

by Ashraf Laidi
Apr 29, 2009 11:50

Upcoming US Q1 GDP (13:30 London time) expected -4.7% from -6.3% in Q4, with consumption (key component) expected +0.9% from -4.3%, which would be the first increase since Q2 2008. A GDP growth of -4.7% or better is theoretically positive for the US economy, but the current improvement in risk appetite could be further emboldened at the expense of the dollar. Cable breaks above 1.4730, eyes $1.4830.


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