Archived IMT (2010.01.05)

Although USD strength continued during falling equities, the US currency has shown modest declines during equity gains. Meanwhile, the unfolding strength in oil despite of a robust USD calls for $89 as a viable target in US crude. GBP is the biggest loser of the day while CAD retains its gains as crude holds firm. We still expect $1.5945 in cable. EURUSD technicals move from bad to worse and a retest of $1.42 remains in the works as early as as next week.