Archived IMT (2009.10.28)
Yen strength remains at the forefront of today's trading as warned in our twitter updates (twitter/alaidi.com), while CAD WEAKNESS intensifies due to 1) more comments from BoCs Carney expressing concern over Loonie strength and 2) oils renewed break below $79.00. We expressed our scepticism with yesterdays Dow gains being mainly driven by IBMs announcement to buy back $5 bln worth of stock. USDCAD breaks 1.0730, eyeing 1.0780. Weekly stochastics suggest 1.0860. CADJPY eyes 84.20. EIA inventory data could trigger more oil downside as crude inventories are seen +1.8 mln barrels. USDJPY eyes 90.55. GBPUSD eyes 1.6250.
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