Archived IMT (2010.05.21)
EURUSD LOSES GROUND to join the commodity currencies on the downside after German IFO sentiment survey slipped in May to 101.5 from 101.6 vs expectations of a rise to 102. NIKKEI-225 GAPPED DOWN 240 pts on Friday following its 300-pt Thursday decline. Dow-30, S&P500 & Nikkei-225 all retested the lows reached on Black Thursday May 6th. MORE BAD NEWS FOR UK as the April Public Sector Borrowing Requirement surged to a new record of 8.8bln, M3 (money supply) was flat for the month and mortgage approvals fell to 47K, highlighting continued govt borrowing and weak bank lending. Cable upside seen capped at $1.4440s, but EURGBP appears vulnerable for fresh break below 0.8650. AUSSIE REMAINS AN AGGRESSIVE LOSER as traders sell the rebounds to renew focus on 0.8140 and 0.80. USDCAD supported by hourly trendline at 1.0610 before renewed run-up to 1.07. EURCHF crushed our trend line resistance of 1.43, but the BEARISH DAILY GAP-DOWN suggests a return below 1.42 if we close the week (today) below 1.4330s. Subseq resistance at 1.4640.
Election Anxiety, Virus Reality
by Adam Button | Sep 25, 2020 19:15
USD Deleveraging & Tech Applications
by Adam Button | Sep 23, 2020 18:16
The Moment of Truth?
by Adam Button | Sep 21, 2020 23:15
FX Shrugs, Indices Shaken
by Adam Button | Sep 18, 2020 18:53
Fed's 2023 Special, BoE Thinks Negative
by Adam Button | Sep 17, 2020 14:04