Intraday Market Thoughts

Archived IMT (2010.02.22)

by Ashraf Laidi
Feb 22, 2010 10:58

Another case of data(less) Mondays when risk appetite pushes higher at the expense of USD and JPY. But GBP remains pressured after those disappointing public sector figures last week, which showed the first January deficit since records began in 1993. GBPUSD 4-hr failing to regain the $1.55 trend line resistance and at risk of recalling $1.5430. USDJPY still unable to break above 92.00 since mid January, now looking to retest 91.10, followed by 90.75. EURCHF drifting back towards the 1.46 intervention zone after SNB VP Jordan said he sees gradual tightening of Swiss monetary policy. Watch out from any wave of buying near 1.46.


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