Archived IMT (2009.12.23)
US Nov personal spending +0.5% (exp +0.7%), helping to maintain upside in equities, but despite new yearly highs for many individual shares, the S&P500 has yet to break above 1120, which is the 50% retracement from the Oct 2007 highs to the March 2009 lows. We have been pointing out the 1120 level as an important level for equities since this October 22nd article http://bit.ly/4pILCK and it remains a staunch barrier ever since. CAD is the best performing currency of the day as US crude regains the $75 mark, but USDCAD support seen standing at 1.0440. We mentioned yesterday the latest resistance level in GBPUSD has fallen towards $1.6090. Although the session high remains blow $1.60, remain alert with any breakout above $1.6030, which is still considered a fresh opportunity to short cable back into $1.5920. The fact that cable cannot regain the $1.60 remains a major negative for the pair.
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