Intraday Market Thoughts

Archived IMT (2009.06.16)

by Ashraf Laidi
Jun 16, 2009 18:25

MONDAYs CARBON COPY into today as equities deepen losses (S&P below 920- support, Dow below 8,630). CADJPY HotChart extends gains by +200 pips to 84.90, which is consistent with all JPY crosses. USDs gains this time are more limited today than Monday, yet this could change after NY lunch in the event S&P breaks below 910. Bovespa -1.4%, which could extend run into cash i.e. USD. Also watch oil testing below $70 (currently at $70.40) for CADJPY and USDCAD play (above 1.1390)


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