Intraday Market Thoughts

Archived IMT (2010.07.22)

by Ashraf Laidi
Jul 23, 2010 0:52

UK GDP FIGURES: Due at 8:30 am GMT (9:30 BST) The preliminary figure of UK Q2 GDP expected +0.5% q/q from +0.3% in Q1, which is the 3rd straight quarterly positive GDP growth. On a y/y basis, Q2 GDP exp +1.1% from 0.2%, the 1st positive y/y figure in 8 quarters. Positive figures could further boost GBPJPY to 133.70-80s especially in the event that risk appetite remains in positive mode. GBPUSD eyes $1.5320-30 but no break of $1.5340. Any negative disappointment could see a retreat towards $1.5180. The other part of the puzzle will be the outcome of the Stress Tests, which are due after the London close. EURUSD ooking for fresh attempt towards $1.2970.


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