Intraday Market Thoughts

Archived IMT (2010.11.05)

by Ashraf Laidi
Nov 5, 2010 12:05

IS IT PAYBACK TIME? EURUSD coming off the highs on escalating Eurozone debt concerns associated with the passing of the Irish budget and worries on banking liquidity in Spain. EUR losing across the board. The suggested trade in the event of a disappointing US jobs figure (less than 20K-10K), we could see EURJPY and EURCHF amid the biggest losers in the event of disappointing US jobs report. 113.50 in EURJPY and 1.34 in EURCHF. In fact, EURCHF Weekly is shaping up to be increasingly negative, eyeing 1.33. Ive mentioned in prev IMT that long USDCHF could be hedged out with EURCHF shorts translating into falling EURUSD, which is the case at present. In the event of positive US jobs report (ie above 80-90K), expect AUDJPY to edge up towards 82.60s.


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