Intraday Market Thoughts

Archived IMT (2009.07.07)

by Ashraf Laidi
Jul 7, 2009 10:03

Aussie remains robust after RBA issued a more upbeat policy statement, which dampened expectations for further rate cuts. AUDUSD and AUDJPY hit a session high of 0.7990 and 76.23, but more gains would have been seen had Japanese equities closed higher. Any rebound in risk appetite in Europe & stabilization in US equity futures is likely to fuel more gains in Aussie crosses--76.40s in AUDJJPY. Sterling remains among the big losers if the session, especially after unexpected decline May manufacturing data. US crude futures +0.58 at 64.59. USDAD support stands at 1.1550, followed by1.1505.


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