Intraday Market Thoughts

Archived IMT (2009.10.05)

by Ashraf Laidi
Oct 6, 2009 0:53

Dow closed +112 pts almost like last Monday when it closed +126 pts on low volume before selling ensued into the rest of the week. Despite the rally, EURUSD was capped at $1.4655-60, AUDUSD gave in at in at 0.8780s and GBPUSD continues to scrape the $1.59 support. The RBA decision coming up at 3:30 am GMT (4:30 am BST) is expected to leave rates unchanged at 3%, but the extent to which the policy statement leaves the door open for a Nov rate hike would boost AUDUSD towards 0.8840s. But beware of the prevailing risk environment during Asian trade. Get the AUDJPY techs from the latest HotChart.


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