Intraday Market Thoughts

Archived IMT (2009.04.29)

by Ashraf Laidi
Apr 29, 2009 15:40

Rising risk appetite unleashes the sharpest FX gains in NZD, AUD and CAD at the expense of JPY, USD and EUR. Unexpectedly strong rise in US Q1 consumer spending helps to alleviate concerns but the rise may not have been a surprise on the back of the biggest consecutive quarterly declines in spending (Q3 & Q4). Note how despite the 2% rally in US indices, both gold and oil are advancing. S&P500 30% limit from the March closing low stands at 879. Todays Hot-Chart on NZDJPY is updated. FOMC decision at 19:15 GMT


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