Intraday Market Thoughts

Archived IMT (2009.06.04)

by Ashraf Laidi
Jun 4, 2009 12:49

ECB press conference at 12:30 GMT (8:30 am EST) will signal whether the 60 bln asset purchase program will be implemented. Any signs ECB will further delay the purchase of covered bonds may be positive for the eurespecially if the US jobless are better or in line with expectations for 620K. European markets started on a positive note after relatively tempered losses in Asia. FTSE-100 slips into the red after BoE leaves its 125 billion quantitative easing program unchanged. Dow futures +9 pts. USDCAD was capped at 1.1143 o.night, while supported at 1.1030. Bank of Canada decision at 13:00 GMT will reveal whether inflation downside risks remain a major worry. If so, then negative for CAD.


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