Archived IMT (2009.03.11)
USDJPY extends selling below 98 yen in line with today's Hot-Chart, thus nearing the 97 support as stocks head back into negative territory. Oil prices drop on unexpected builds in inventories, while bond yields hit 4-month high, adding to the probability for a break-out in long yields. Gold proves it can hold above the $890 TL support and above the 50-day MA. Tomorrow's US retail sales release is expected to show sales heading back into negative territory (after holiday discounting), which may hinder the gains in yields but the uptrend is looming large.
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