Intraday Market Thoughts

Archived IMT (2009.06.25)

by Ashraf Laidi
Jun 25, 2009 13:06

Sterling shows the biggest deterioration in FX over the past 16 hours as cable breaks below 1.6280 trend line, eyeing next support at 1.6250s. Look for 1.6180. Dow futures + 6pts but FTSE and DAX 28 and -64 respectively. USDCAD hits 1.1620 target as oil breaks to 68.30s. Next level at 1.1650 (trend line resistance from Mar high), with key level at 1.1720 top of 4-week channel. CORRECTION: NZDUSD seen testing 0.6320 (NOT 0.6220), followed by 0.6270, while EURUSD may test 1.3880 in event of weak jobless claims. USDJPY capped at 96.70. Bernanke's testimony at 14:00 GMT


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