Intraday Market Thoughts

Archived IMT (2009.10.01)

by Ashraf Laidi
Oct 1, 2009 17:27

FALLING STOCKS, BOND YIELDS, OIL PRICES has been our forecast for the past 8 weeks, as riskaversion supported by growth concerns and a firmer USD. Markets extend losses, while oil drops back below $69.70 as Iran accepts to invite inspectors. USDCAD, EURJPY, AUDJPY hit the targets communicated in the forum and twitter at 1.0780, 130.50 and 78.20. The decline in the manuf ISM was instrumental in accelerating stocks selloff. GBPJPY on course for its biggest weekly decline of the year, while GBPUSD eyes $1.5880. 10 yr yields break below 3.26% support, hitting a 4-month low. FInd out more about the implications of falling bond yields and the unfolding intermarket relationships in Saturday's webinar


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