Intraday Market Thoughts

Archived IMT (2010.03.05)

by Ashraf Laidi
Mar 5, 2010 17:09

Markets anticipate the 17:30 GMT join press conference by German Chancellor Merkel and Greek PM Papandreou after their meeting in Berlin. German made it clear it will only give political support and not make any promises for financial aid to Greece. Yen weakness extends across the board on better than expected US jobs report and the subsequent rallies in US equities. The key resistance levels of gold (1140) and oil (81.40) have been tested but have yet to show a close on the week. AUDUSD made an intraday break of the 100-day MA 0.9070 as was the case on Wednesday but it will have to close the week above it for the bull run to extend beyond this key resistance levels. GBPUSD faces next obstacle at 1.52


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