Intraday Market Thoughts

Archived IMT (2010.03.25)

by Ashraf Laidi
Mar 25, 2010 18:23

USD shows shades of 2 days ago when its isolated rally vs. EUR and GBP extended into commodity currencies. Euro is quickly dragged back below $1.33 after failing $1.34, making the preliminary target of $1.3220 viable in Asia. Cable shrugs those strong UK retail sales to get closer towards the $1.4770 and $1.4380. Most significantly is the further waning of once strong negative correlation between equities and euro. thus, although Dow may test 11K, euro is not immune to a sub $1.32 break.


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