Intraday Market Thoughts

Archived IMT (2010.03.09)

by Ashraf Laidi
Mar 9, 2010 1:23

MOODYs UK BANK ALERT: Moodys says in special report on UK banks that their extraordinary support obtained during the crisis is being gradually phased outm but does not add anything on the implications of this transition. GBPUSD nears $1.4980 target after February RICS figures on house prices tumble to 17 from 31 (lowest since Aug 09). With no key UK data in sight, the combination of negative UK positioning and possible profit-taking in Asian equities will be needed to break below $1.4980 and onto $1.4930. JPY stabilizes after Monday weakness as Asian stocks get in the red. GOLD CONFIRMS FAILURE AT 1140. Next downside target at 1112-13.


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