Intraday Market Thoughts

Archived IMT (2010.08.05)

by Ashraf Laidi
Aug 5, 2010 1:33

KIWI SLUMPS across the board after NZ unemployment rate jumped to 6.8% in July from exp 6.4% (vs exp 6.6%). My followers on twitter were alerted 75 mins before the release of the report with the following tweet: $AUDNZD longs worth a look ahead of tonight's Kiwi job figures. Cross already broke the 4/4 trendline resistance eyeing 1.2570s. The worse than expected report fired up AUDNZD by +100 pips in less than hour, sending it to 1.2577. GBPNZD longs eye 2.198, NZDCAD shorts may see prolonged losses as oil prices soar on 1) EIA figures 2) Feds dovish talk and 3) emerging speculation of an Israel strike on Iran (according to intelligence reports). NZDJPY would also be a big loser in the event that risk appetite takes a turn to the worse. USDCAD extends further losses as per the chart in prior IMT


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