Intraday Market Thoughts

Archived IMT (2010.05.04)

by Ashraf Laidi
May 4, 2010 13:09

JPY and USD BATTLE FOR DAYs SUPREMACY as falling risk appetite boosts both currencies across the board, with USDJPY off 50 pts from its 94.98 highs, while EUR drops to fresh 12-month lows at 1.3088. GBPUSD eyes 1.5120 support in order for any realistic chances to break into the $1.50 figure. Any election-driven upside surprise could see gains limited at $1.5380, but $1.55 remains a stubborn obstacle, drawing fresh offers back into $1.51. CAD is the days best performing currency behind USD and JPY, which could suggest more downside for the loonie, with USDCAD eyeing 1.0230 and CADJPY BEARISH INSIDE DAY eyeing 92.30, 91.80.


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