Intraday Market Thoughts

Archived IMT (2010.01.25)

by Ashraf Laidi
Jan 25, 2010 18:42

Tuesdays release of German Jan IFO (9:00 am GMT) climate survey is expected to show the 11th consecutive monthly increase, but the expectations component will be scrutinized after recent declines in the ZEWs investor sentiment survey. Tuesdays release of UK Q4 GDP (9:30 am GMT) is expected at +0.4% q/q and -3.0% y/y, will be largely scrutinized in function of comparing it to the consensus of expectations. GBPCAD hit 1.72 from the last IMT, with the weekly stochastics calling for prolonged gains towards 1.73, but any retreat is seen limited at 1.71. Gold is still seen falling towards 1070 in the current downleg with any rebound unlikely to regain 1117--Dec 3rd trend line.


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