Intraday Market Thoughts
Archived IMT (2008.11.05)
Nov 5, 2008 21:26
EURUSD awaits Thursdays ECB rate decision and press conference, with a 50-bp rate cut to 3.25% fully priced in the market. While ECBs Trichet may trigger prolonged losses by expressing optimism on the inflation front, the ECB and BoE rate cuts could trigger short-term boost for risk appetite and the euro towards $1.3050. Downside stands at trend line support of $1.2830, followed by $1.2750.
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