Intraday Market Thoughts

Archived IMT (2009.05.18)

by Ashraf Laidi
May 18, 2009 1:04

The short Kiwi trade that keeps giving. Today’s Q1 PPI figures showed a worse than exp 1.4% decline q/q. NZDUSD and NZDJPY drop 300 pips in 4 days to 0.58.38 and 55.47 respectively. And with risk appetite set to shed more ground this week, more Kiwi losses. Do not forget the double top in NZDJPY mentioned in recent Hot-Chart. Major target stands at 54.00.


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