Intraday Market Thoughts

Archived IMT (2010.06.09)

by Ashraf Laidi
Jun 9, 2010 13:14

STERLING IS DAYs HIGHEST PERFORMER today, followed by CLOSELY by NZD and CAD out of a group of 11 currencies. The Kiwi (NZD) and Aussie both rallied on a CHINESE DATA LEAK that China exports soared 50%, well above expectations of 32%. The report was scheduled to for release later in the week. Combining Bernanke's expectedly optimistic stance on the economy at today's testimony with the Chinese figures, we expect further gains in the risk trade especially at expense of JPY. GBPJPY eyes 133.60, CADJPY eyes a break of the 87.70 onto 88.30. KIWI RALLYING AHEAD RBNZ decision today expected to raise rates by 25 bps. NZDJPY eyeing 62.20.


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