Intraday Market Thoughts

Archived IMT (2008.10.24)

by Ashraf Laidi
Oct 24, 2008 19:04

Forex markets are seeing more stablization than equities as yen crosses push higher and the pound rallies 6 cents from its lows to $1.5850. Remain alert with renewed risk aversion and deepening ewquity losses later into the US equity session, which has been the Modus Operandi especially on Fridays. Cable is already tunring faster from $1.5830 to $1.5767. $1.5600 may be retested today and further losses may be seen in early Monday Pacific trade.


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