Intraday Market Thoughts

Archived IMT (2009.03.23)

by Ashraf Laidi
Mar 23, 2009 13:29

US Govt. offers more details as far quantity of toxic debt to be purchased by Treasury, Fed and private investors. A point often repeated here is that the combination of relative data vacuum in the US along with neutral-positive risk appetite is conducive to prolonged USD weakness. JPY remains weakest performing currency, offering prolonged upside for AUDJPY and NZDJPY. GBP retreats after negative comments from BoEs Blanchflower saying recession forecasts may be too optimistic. Cab;e#s upside still capped at $1.47, followed by 1.4860s. Todays Hot-Chart dissects the AUD-Copper relationship, a topic discussed in detail in my book (Chapters 3, 4 and 8).


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