Archived IMT (2009.11.25)

FX markets show unusual occurrences as USD and JPY stand at opposing sides of the return spectrum. USD is the worst performing currency of the day (USD falling to fresh 11-month lows) and JPY is the second highest performer (just behind AUD). Yesterdays FOMC minutes describing USD decline as orderly was a green light to sell the currency, especially as risk appetite improved following a 2% rebound in China. UK Q3 GDP was revised to -0.3% from -0.4%, sending GBPUSD to $1.67, but resistance stands at $1.6755. Gold hits 1,180, while silver retreats to 18.55. OIL STILL LAGS BEHIND, below 77 despite USD weakness. CADJPY seen capped at 83.90, EURJPY eyes 131.20 and capped at 132.70.