Intraday Market Thoughts

Archived IMT (2009.12.23)

by Ashraf Laidi
Dec 23, 2009 16:49

Another reason why IMT subscribers must follow our short updates on twitter . We mentioned that the knee-jerk USD decline following the unexpected 11.3% decline in US new home sales would later be followed by a USD rebound as US stocks retreat lower. Stating that GBPUSD remained a decent short at $1.5980s is now giving way to $1.5930s. Long USD positions may be hedged with a USD shorts against CHF (targetting 1.0350) as CHF remains propped by outflows from Eurozone. CAD also boosted by oil rally and latest remarks from Fin Min Flaherty speculating about Chinese FX purchases of CAD. GBPCAD looking to retest 1.65.


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