Intraday Market Thoughts

Archived IMT (2009.06.24)

by Ashraf Laidi
Jun 24, 2009 17:26

USD strengthening across the board with EUR and GBP knocked around amid profit-taking ahead of the FOMC. Stocks coming off their highs of the day while USDJPY hits 95.65. Against the backdrop of retreating bond yields, the FOMC may appear to be in no rush to commit to a new wave of asset purchases (treasuries and MBS), in which case could nudge up the dollar at the expense of oil & rest of commodities. Thus, the statement will likely retain the phrase: The Committee will continue to evaluate the timing and overall amounts of its purchases of securities in light of the evolving economic outlook and conditions in financial markets". USDCAD eyes 1.1530


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