Intraday Market Thoughts

Archived IMT (2009.08.19)

by Ashraf Laidi
Aug 19, 2009 15:59

Oil prices soared to a 3-day high of $71.35 after the EIA inventory data on crude, gasoline and distillates plunged across the board due to falling US imports. JPY fell across the board, while USD dropped against all majors except for USDJPY which is now dragged down towards session lows of 93.80. Subsequent target satnds at 93.25-30. After struggling to overcome 1.1120, USDCAD is now seen supported at the 1.0970 trend line support -- Aug 3 channel. GBPUSD faces selling pressure at $1.6530-40


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