Intraday Market Thoughts

Archived IMT (2010.06.11)

by Ashraf Laidi
Jun 11, 2010 11:30

RISING CAD, FALLING GBP are the main movers of the day. Unexpected decline in UK April manufacturing output drag down GBPUSD by more than a full cent to $1.4640s, while GBPJPY drops back to 134.20s. CADJPY breaks 50% retracement at 88.50, eyeing 89.70s in the event of protracted gains in risk appetite. GBPUSD fails the 38% retracement at $1.4720, eyeing 1.4580. US retail sales will be key in determining risk positioning and appetite for the yen crosses. . Ashrafs CNBC appearance on BP yesterday


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