Archived IMT (2009.04.08)

Irelands sovereign credit rating just got downgraded by Fitch from AAA to AA+. Euro coming off its $1.3309 high and could extend losses to as low as $1.3220. Earlier today, Irish Fin Min said the State it might take majority stakes in Irish banks if their property-related losses require injections. Tomorrows German Indus production for Feb expected to drop by more than 21% following a 19% decline could intensify euro selling in the event risk appetite is neutralized later in US and into Asian session. Foundation stands at 100-day MA of 1.3170.