Intraday Market Thoughts

Archived IMT (2009.06.05)

by Ashraf Laidi
Jun 5, 2009 17:06

Rising gold channel risks being broken on the downside as it tests the 955 support, closing down on the week after 4 straight weekly gains (longest since Dec 2008). Oil down $1.50 from its $70.31 high, with a close below $68.70 likely to trigger prolonged losses into next week. UK PM Brown reshuffles govt after 5 resignations. Cable drops to $1.5960 low, with sterling eyeing prolonged losses vs AUD and NZD. JPY remains weakest currency as equities stand in the green at NY lunch break.


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