Intraday Market Thoughts

Archived IMT (2009.09.25)

by Ashraf Laidi
Sep 25, 2009 13:39

OIL EXTENDS PLUNGE TESTING 65. Unexpected decline in US durables reaccelerates the risk aversion trade at the expense of all currencies vs. USD, followed by JPY as the next gainer. Markets await the 14:00 GMT release of US new home sales (exp 1.0%, prev +1.1%) and whether they would show a decline as did the existing home sales. GBPUSD seen retesting 1.5870, USDCAD eyes 1.1020, EURUSD targets 1.4570.


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