Intraday Market Thoughts

Archived IMT (2009.12.16)

by Ashraf Laidi
Dec 16, 2009 19:43

There was no surprise in the FOMC statement maintaining the phrases exceptionally low rates for extended period. But the FOMC issued a slightly more favourable economic outlook with regards to the labour market, and specifying Feb 1st 2010 as the date by which most of the Federal Reserves special liquidity facilities will expire. We expect USD to accumulate further ground into the Asian session, dragging EURUSD towards $1.4470 and GBPUSD towards $1.6280. USDJPY seen regaining 90, but upside limited at 90.40-45.


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