Archived IMT (2008.11.24)

USDCAD drops below 1.26, on its way to aforementioned end of week target of 1.24. Gold extends gains to $822/oz, up over $35 in past 2 sessions. Key target stands at 100 day MA of $831. One way to highlight the strengthening role of risk appetite on currencies is the EUR's shrugging of the worst than expected IFO survey from Germany. Although the IFO index hit a 15-year low, the euro rallied on the Citigroup news, which was a boon for higher yielding currencies relative to ... REST AVAILABLE TO SUBSCRIBERS of Intraday Market Thoughts.