Intraday Market Thoughts

Archived IMT (2010.09.02)

by Ashraf Laidi
Sep 2, 2010 12:08

STERLING BROADENS WEAKNESS on fresh data disappointment, this time from the slowest monthly rise in Nationwide house price index since Nov 2009 and slower than expected Aug construction PMI (6-month low). GBPUSD drifts around its 200-day MA $1.5427, while attempting to hold above the $1.5390s38% retracement of the rally from the May lows to the Aug highs. EURUSD supported by afresh round of Eurozone data strength, this time from Eurozone Q2 exports surging to their highest since records began in 1995. Awaiting the ECB press conference, EURUSD seen retesting $1.287538% retracement from the $1.3333 high, a break of which will likely target the next key target at $1.2960s.


Latest IMTs