Intraday Market Thoughts

Archived IMT (2010.07.23)

by Ashraf Laidi
Jul 23, 2010 18:06

7 of the 91 banks failed the Eurozone Stress Tests, whose scenarios included: -0.3% in 2010 and 2011 GDP, a double-dip recession, 20% decline in stock markets in 2010-11 and a 4-notch credit ratings downgrade of Eurozone securitized products. LISTEN TO ASHRAF's INTERVIEW discussing the Stress Tests #

Equity markets are little changed, while GBPUSD retains momentum to regain $1.5480s into early next week. EURUSD seen remaining supported at $1.2770 but with renewed chances to retest $1.2930.


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