Intraday Market Thoughts
Archived IMT (2010.04.22)
by
Apr 22, 2010 15:08
EURO NEUROSIS as SPREADS GONE WILD; Greece-German 10 yr spreads hit new record of 5.77%, Portuguese-German spread at 1.8%, USD BROADENING STRENGTH ESCALATES as EURUSD hits $1.3280, while EURGBP tests its 100-WEEK MA for the first time since 2007. US Mar existing home sales rose 6.8% vs exp +4.6%. Commodities sell-off drags oil below 81.90, eyeing 81.50, but 80.40 is the next target, which is the 38% retracement of the 69.5-87 move. AUDCAD seen testing 0.9210, Cable eyeing 1.53, especially on prolonged LDP gains ahead. USDCAD target stands at 1.0070. USDX PROBING 4-week trend line resistance at 81.72, eyeing 82.
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