Intraday Market Thoughts

Archived IMT (2010.02.01)

by Ashraf Laidi
Feb 1, 2010 14:40

Generally positive US data on consumption and income lifts US equities and commodities, slowing down the rally in the US dollar index from its 79.53 high. The USDX had risen for 5 straight sessions and could well make one of its typical Monday pullbacks that usually emerge after strong Thurs and Fri sessions. US Dec ISM due at 15:00 GMT exp 55.2 from 54.9. Watch the individual components of the survey; employment (prev 50.2), new orders (prev 64.8) and prices indices (61.5). Strong figures could weigh modestly on USD but resistance levels remain holding at 1.5970 & 1.6030 in cable. USDCAD support at 1.0623. Gold rebound to remain limited at last weeks successful resistance of 1115. Interim resistance stands at 1097.


Latest IMTs