Intraday Market Thoughts

Archived IMT (2010.01.14)

by Ashraf Laidi
Jan 14, 2010 13:26

The ECB Press conference at 13:30 GMT will coincide with the release of the US jobless claims and Dec retail sales. Headline sales are expected at 0.3% from 1.4% and core sales expected at 0.4% from 1.2%. Also watch the sales ex-autos, ex gasoline figure. ECB president Trichet is not expected to issue an overly hawkish tone, and all eyes will be on what he answers to questions regarding Greece. FX traders are dragging EURUSD further below $1.4450, and any sign of status-quo on monetary policy risks dragging the pair towards $1.4400. Cable remains capped at $1.6330 and Aussie has yet to breach above 0.9350 despite those explosive job figures.


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