Intraday Market Thoughts
Archived IMT (2010.04.30)
by
Apr 30, 2010 10:45
EURO STABILIZATION is occurring despite CAD WEAKNESS, while YEN IS THE WEAKEST currency so far today. EU officials may be expected to firm up an agreement in Greece this Sunday. More talk of a 3-year deal for Greece in the size of EUR 120-150 billion, which means as much as EUR40 bln could be disbursed. The $1.3320 resistance is being tested as shown in yesterdays chart http://chart.ly/xhgxcv , which could pave the way for a temporary ceiling near $1.3385-90. CAD remains weak after those remarks from BoCs Carney warning about sovereign headwinds on Canada. USDCAD supported at 1.0020 but has yet to regain 1.0080. Both US and CAN Q1 GDP are released. More analysis on that later.
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