Intraday Market Thoughts

Archived IMT (2009.07.13)

by Ashraf Laidi
Jul 13, 2009 16:08

FX traders require more of a convincing upturn in risk appetite to allow any substantial rebound in yen pairs (USDJPY above 92.90s, EURJPY above 131.50 and GBPJPY above 151.00). Similarly, keep an eye on US 10-year yields (3.20% support) and oil prices ($57.35). The weeks array of US banking earnings could will unveil the usual 3-way juggling involving earnings, expectations and guidance. Oil volatility continues to influence equities, with any fresh declines succeeding in dragging stocks lower. $57.90 per barrel is the 38% retracement of the 33.05 -73.25 rally.


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