Intraday Market Thoughts

Archived IMT (2009.07.15)

by Ashraf Laidi
Jul 15, 2009 16:52

Gold and bond yields extend their positive correlation as they both exploit the dollars latest damage. Better than exp US data boosted bond yields while improved run-up in appetite lifted gold as well as rest of high yielding currencies. The 3.26% low in yields is higher than our predicted 3.15%. A breach above the 3.55% resistance in yields boosts chances of a protracted climb towards 3.64%. More likelihood in gold extending its gains towards 960s in the event of a close above 945.


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