Intraday Market Thoughts

Archived IMT (2010.06.18)

by Ashraf Laidi
Jun 18, 2010 14:32

USD INDEX hits a low of 85.45, as the risk rally extends US equity indices well above their 200-day MAs. A monthly close below 86.50 will prevent the index from posting a record 7 monthly increases. While we did see a EURUSD close above $1.2370, we've yet to see a weekly close above that level. The FOMC announcement will maintain the low rates mantra, which will likely help stabilize equities unless event risk from credit rating agencies reemerges. Ashraf is in South Africa for the World Cup so updates are minimal. Enjoy !


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