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Archived IMT (2010.05.17)

by Ashraf Laidi
May 17, 2010 14:11

USD stabilizes from day's highs as US equities attempt getting back into the black but disappointing NY Empire Manufacturing data could weigh on abny recovery in risk appetite. GBPUSD hit the $1.4250 target from overnight IMT. Tomorrow's UK CPI figures will determine the extent of cable's recovery beyond $1.4550s. Todays breach of the $1.2320 low to $1.2237 is likely to be followed by the familiar Monday rebound in equities, which could call up $1.2420 by mid week.

WATCH ASHRAF's INTERVIEW ON BNN earlier today

http://watch.bnn.ca/#clip302804

Ashraf

 
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