Intraday Market Thoughts

Archived IMT (2010.06.10)

by Ashraf Laidi
Jun 10, 2010 11:28

NZD IS DAYs HIGHEST PERFOMER after the RBNZs 25-bp rate hike, which lifted NZDJPY and NZDUSD to 62.20 and 0.6816 respectively. AUD, NOK and CHF follow behind as strong performers. IT WAS RARE to see Asian stocks rally despite late session turnaround in US indices. Robust jobs figures in Australia and South Korea were behind the Asian rally, which is now lifting Eurostocks higher as well as Dow futures +83 pts. We still like USDCHF below 1.14 to 1.1330s. ECB press conference at 12:30 GMT will be key. CADJPY may extend past 88.50s later today in event of positive CAN trade figures and prolonged boost to risk appetite.


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