Intraday Market Thoughts

Archived IMT (2010.07.16)

by Ashraf Laidi
Jul 16, 2010 15:43

MARKETS SLUMP after Citi misses earnings and the July Univ of Michigan consumer sentiment survey plunged 9.5 pts to a 16-month low of 66.5. GBPJPY extends its plunge to 160 pips from yesterdays levels, eyeing 131.70. CAD is the WORST PERFORMER and JPY is the BEST PERFORMER as oil makes another prominent failed attempt to regain the 200-day MA. Crude eyes 74.70, with risk of calling up 73.00. USDCAD eyes 1.0590, while CADJPY (the days biggest mover) may fins some stabilization at 81.60s. EURJPY is on track w/ latest HOTCHART as it fails 113.40, but a sub 111 break is needed for the downside to be established. EURUSD seen supported at $1.2867-70.


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