Intraday Market Thoughts

Archived IMT (2009.05.05)

by Ashraf Laidi
May 5, 2009 17:21

The 5 consecutive daily gains in GBPUSD dissipated at todays $1.5162 high, but the rising trend line from the Mar 24 suggests further gains could reach the $1.5280s. EURGBP looks to drag losses towards 0.8790, a break of which could call up 0.8740. Yen crosses trade near their lows as stocks flirt with negative territory. Aussie retains attempts a revisit towards the session highs, while but this evenings trade balance and retail sales figures (1:30 am GMT) could eventually fuel the currency past the 0.75-cent figure.


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