Intraday Market Thoughts

Archived IMT (2009.07.03)

by Ashraf Laidi
Jul 3, 2009 12:42

Dollar remains generally firm despite smaller than expected losses in Asia and low volume activity in Europe. With US markets out for a long weekend, market activity to start unwinding in a couple of hours. Weaker than expected UK services PMI and disappointing Eurozone retail sales may signal the beginning of the next consolidation in data following the phase of slowing deterioration-which was zealously cheered by the markets. GBPUSD looks to test 1.6270 while recovery cpaped at 1.64 and EURUSD gains seen limited at $1.4070. Trades, Links & Ideas on


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