Intraday Market Thoughts

Archived IMT (2010.01.19)

by Ashraf Laidi
Jan 19, 2010 10:22

GBP rallies across the board as UK CPI hits 9-month high of 2.9% y/y from 1.9% in Nov. Krafts imminent takeover offer for Cadbury is boosting GBP, as well as a report from Goldman Sachs predicting the UK will outperform major economies in 2010. Next cable resistance stands at $1.6480 (61.8% retracement), which requires a close above this level to prolong bullishness into $1.66. EURUSD drops on disappointing ZEW figures, now vulnerable to call up the 200-day MA at $1.4280. Oil drops below the key 78 support, dragging CAD across the board. Our HotChart deepens in the green as CADJPY hits 88.00.


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