Intraday Market Thoughts

Archived IMT (2009.07.21)

by Ashraf Laidi
Jul 21, 2009 14:08

USDCAD drops below 1.10, mainly part of an overall decline in USD and JPY resulting from rallying Dow futures (+70) on stronger than exp Caterpillar earnings. BoC decision was CAD-positive as lifts GDP outlook as it dropped its reference to unprecedentedly rapid rise in the currency. USDCAD now eyes the next support at 1.0930. Shorts in AUDCAD eye 0.8930. EURUSD touches June 5 high of $1.4262. Watch whether it can close above $1.4230 by end of NY.


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