Intraday Market Thoughts

Archived IMT (2009.10.19)

by Ashraf Laidi
Oct 19, 2009 12:41

EUROGROUP MEETING. EURUSD continues to face resistance at the psychological $1.50 figure, which is partly standing as a result of euro weakness emerging against AUD, NZD and CAD. EUR traders to scrutinize remarks from today's Eurogroup meeting (15:00 GMT) for whether any euro-jawboning to emerge from the politicians as warned about by Eurogroup head Jean Claude Juncker. Today's quarterly earnings from Apple (exp $1.42 /share from $1.26/share) and Texas Instruments ($0.39/s from $0.43/s) will be instrumental could serve as a trigger for fresh EUR momentum in the event of positive earnings and outloolk.


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