Intraday Market Thoughts

Archived IMT (2009.07.06)

by Ashraf Laidi
Jul 6, 2009 10:21

Concerted selling in Asia and Europe further accelerated oils decline below $64, prompting sharp declines in CAD vs USD (1.1679) and JPY (81.47). Sterling collapsing below the $1.6185 support to 1.6102 on expectations the Bank of England will expand its asset purchase program by an additional 25 billion. $1.6050 stands as next support, followed by $1.5770. The upcoming US services ISM (14:00 GMT) is exp at 46 from 44. Canadas jobs report on Friday could to keep USDCAD firmly in the upward channel, eyeing 1.1750 and 1.1830. Godl remains propped at 910. Dow futures -75 pts


Latest IMTs