Archived IMT (2009.08.20)

US equity futures in the red as US jobless claims rise to a 4-week high of 576K, dragging down an already fragile GBP, CAD and AUD against USD and JPY. USDJPY falls back below 93.90. A break below 93.80 will likely re-emerge in the event of disappointing USD data such as an August Philly Fed survey (14:00 GMT) of no more than zero 9from previous -2.2 in July. Also watch the employment component of the Philly Fed survey whether it improves from -25.3. July leading indicators index exp +0.7% from Junes. Any protracted declines in oil below 72.00 will likely prope USDCAD towards 1.1030s and drag CADJPY towards 85.00. Sterling vulnerable to more losses in event of break below $1.6440.