Intraday Market Thoughts

Archived IMT (2009.10.14)

by Ashraf Laidi
Oct 14, 2009 11:29

The Intel-driven rally in world equities and risk currencies continues to damage the US currency, as EURUSD regains $1.49 and GBPUSD hits $1.60. JP Morgans earnings are due at about 11:00am GMT expected +$0.49 per share from previous +$0.11. Cable looks to break above the 4-week trend line resistance of $1.6125-30, but intraday stochastics are starting to show a bearish divergence. USDJPY attempts to hold above 89 on JPY strength after the BoJ upgraded its assessment and an MoF official said there would be no intervention when yen rise is a result of other currencies weakness rather than actual yen strength. EURJPY is capped at 133.60, AUDJPY has yet to break above 81.70 double top.


Latest IMTs