Intraday Market Thoughts

Archived IMT (2009.09.17)

by Ashraf Laidi
Sep 17, 2009 13:38

US jobless claims fell to 545K from 557K but Aug housing starts +1.5% to 598K (exp 600K) and permits +2.7% to 579K (exp 580K). Oil still failing to regain that right shoulder at 72.50. USDCAD bounces off its 1.06 lows after further CPI weakness. USDCAD SUPPORT STANDS 1.0605-1061.8% retracement of the rally from the 0.907 low (Nov 2007) to the 1.3038 high (Mar 2009). GBPUSD struggles to hold above $1.65 but is holding STEADY AGAINST HIGH YIELDERS (AUD and NZD). Expect further gains in NZDGBP towards 2.34.


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