Intraday Market Thoughts

Archived IMT (2009.10.08)

by Ashraf Laidi
Oct 8, 2009 15:40

EURUSD, GBPUSD struggling to regain the $1.48, $1.61 levels despite a strong start to US stocks and bigger than expected decline in weekly US jobless claims. USDX continues to find support at the key 75.85 level, which successfully held up on September, December and late last month, the same time that EURUSD failed to regain $1,4860s. The USDX is a basket against 6 currencies (EUR, JPY, GBP, CAD, CHF, SEK), of which the euro has the biggest weight at 58%. USDCAD still holds at 1.0525equivalent of 95 cents in CADUSD terms. WATCH ASHRAF on CNBC's Street Signs at 2:45 pm EDT (6:45 pm GMT, 7:45 pm BST) today w/ Erin Burnett.


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