Intraday Market Thoughts

S&P500 Breaks Below 1290, EUR Shaken but not Stirred

by Kyle Morrison
Jun 6, 2011 23:39

Now that the S&P500 has closed below its April low, Let's see how low will risk currencies such as EURUSD will go. Remarks from EU politicians indicating euro is overvalued did help drag EURUSD below 1.46, but we still see this as a possible driver for fresh buys on the dips. PRE-RBA DECISION TRADING IDEAS are found in today's premium piece. Only 5 of the 28 economists expect a rate hike to 5.00% (Barclays, Deusche Bank, Moodys, RBS and ICAP). We do not expect a rate hike. But more importantly, here are 3 trades ahead of the decision for both scenariois

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