Intraday Market Thoughts

Archived IMT (2008.10.16)

by Ashraf Laidi
Oct 16, 2008 16:42

FX is still all about risk. VIX surges to new record of 77 as stocks sink back to negative territory. Despite the plunge of October Philadelphia Fed index to 18-year lows, I told CMC clients earlier this morning I expect EURUSD to take its negative queues from a downturn in risk appetite, as traders test the $1.34 figure and set their sights on $1.3360. I expect EURUSD to test a fresh 1 1/2 year low under $1.32 and onto $1.3170 before month end.


Latest IMTs