Archived IMT (2009.12.08)
Both USD & JPY rally against all major currencies, with JPY OUTPEFORMING ALL CURRENCIES (USDJPY testing 88.15). GBPUSD tumbles sharply after UK Indus production & manuf output both fell by more than expected (we warned you in previous IMT). The USD recovery intensifies as EURUSD breaks well below $1.48 and USDX jumps past 76. GOLD drops $80 from its $1,225 high. We would be particularly vigilant with a close below $1,070, which would mean a 13% decline from the high. Since January, gold had never fell more than 13% from its cyclical high, thus greater scrutiny will be drawn beyond this threshold. GBPUSD testing 50% retracement at 1.6285 and could extend losses towards $1.6150 on Wednesday's anticipated UK Budget.
Kushner a Tell?
by Adam Button | Dec 5, 2019 11:11
GBP Breaks out, USD Hurt
by Adam Button | Dec 4, 2019 14:38
Time for the Pre-Santa Selloff
by Adam Button | Dec 3, 2019 12:55
USD Pauses, Key Levels Pre ISM
by Ashraf Laidi | Dec 2, 2019 13:51
Tories in Command, Turn to China
by Adam Button | Nov 28, 2019 12:51