Intraday Market Thoughts

Archived IMT (2010.06.03)

by Ashraf Laidi
Jun 3, 2010 4:56

UNEXPECTED TRADE SURPLUS in Australia making the Aussie the days strongest currency, as April trade surplus hit A$ 134 million due to 11% increase in exports (+25% rise in metals/iron ore exports). AUDUSD breaks out of 0.8420 trendline, eyeing 0.8520. AUDJPY stands to extend gains towards 78.80, followed by 79.30s. BOTH CADJPY and GBPJPY are up, but as we noted in previous IMT, CADJPY is the outperfomer, eyeing 89.35-40, followed by 89.70s.


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