Intraday Market Thoughts

Archived IMT (2010.07.07)

by Ashraf Laidi
Jul 7, 2010 9:45

GLOBAL EQUITIES STRUGGLING again after the 1.7% intraday gains in Wall Street were halved by end of session, translating into lower sessions in Asia. This propped USD and JPY back up against most currencies, but continued to weigh on USDJPY, which I continue to project below 85 in late Q4. USDCAD stabilized above the 1.0470 support before regaining 1.06, but a return to that 1.0680 double top is unlikely to emerge today, barring any intensification of selling. Here is a REPLAY OF MY INTERVIEW about JAPAN's choice to opt for the low-interest rate/deflationary spiral and the implications for the JPY, conducted for Singapores


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