Intraday Market Thoughts

Archived IMT (2010.07.26)

by Ashraf Laidi
Jul 26, 2010 13:09

MIXED FORECASTS for todays June new home sales report from the US, with some economists expecting a rise to 320K from 300K, while others seeing 280K. Although the May report showed a 32.7% plunge to 300K, we may yet see another decline, in which case could exacerbate the existing decline in USDJPY toward 86.40 (see previous IMT). A decline of more than 15% will likely drag further CADJPY back towards 83.45-50s. GBPUSD eyes the April high of $1.55 a breach of which could extend towards $1.5580. LAST WEEK's WEBINAR WITH FARI HAMZEI is on here:


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