Intraday Market Thoughts

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

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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