Archived IMT (2010.07.20)

STERLING EXTENDS SELLING vs. USD and EUR as UK public sector borrowing hit a new record high in June reaching 21 bln, with net debt at 64% of GDP. UK July CBI Trends survey is due at 10 am GMT (11am BST) expected at -24 from -23. More data disappointment from the UK could see cable breach $1.5190, while GBPJPY is seen eyeing 131.70, after recurring failure of 133.40s. EURUSD touched $1.3028 and is expected to retest the level before preliminary $1.3080 and $1.3130 later in the week ahead. Barring any negative surprises from Fridays publication of the European stress tests, we could see EURUSD build a new floor above $1.29. EURGBP eyes 0.8580. GOLDMAN SACHS earnings before the bell and Apple after the Bell. HERE's the RECORDING OF ASHRAF's SUNDAY WEBINAR for Hamzei Analytics http://bit.ly/7Fnxe