Intraday Market Thoughts

Archived IMT (2011.01.27)

by Ashraf Laidi
Jan 27, 2011 13:49

GLOBAL YIELDS BACK ON THE RISE, which partly helps explain the broad JPY decline. Aside from S&Ps downgrade of Japan, the broadening yield rallyshould further weigh on the Japanese currency. Expect USDJPY to regain 83.80s and tomorrows advance US Q4 GDP may well be the fundamental catalyst. Another of my short term calls is favouring USDCAD into 1.0025-30 as a preliminary target. GBP STRENGTHENS on better than expect CBI figures but GBPUSD remains well under the 1.6020 resistance. While UK 10-YEAR GILT YIELDS have pushed higher, we focus on the spread between GILTS/TREASURIES, whose yield differential stands at 0.28, which is BELOW the 0.29% seen in the chart here discussed on Sunday workshop. See Aussie call in prev IMT

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