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Archived IMT (2010.06.07)

by Ashraf Laidi
Jun 7, 2010 16:01

USD DOLLAR INDEX LOOKING FOR ITS 7th MONTHLY CONSECUTIVE increase, the longest winning streak since the history of the 39-year old index. Watch Ashraf's appearance on CNBC earlier today http://bit.ly/bg7l7d

EURGBP deepens losses after to the lows of Nov 2008 at 0.8220s, showing no respite ever since the break below key support of 0.8440. Were still targeting 0.8175-80the 50% retracement of the rally from the 0.6540 low to the 0.8913 high. Meanwhile, US stocks are unable to show upward leadership, especially after the Dow closed below the May 6 lows on Friday. USDCAD eyeing 1.0630 as oil is vulnerable to closing below the $70. WATCH S&P500 testing the 1040 level and the DOW MAKING ANOTHER CLOSE below the May 6 low.

 
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