Intraday Market Thoughts

Archived IMT (2010.08.20)

by Ashraf Laidi
Aug 20, 2010 12:44

ECBs WEBER ROCKS THE EURO with some hawkish comments after saying ECB discussions revolving around removing monetary stimulus around Q1 2011. Irish 10yr yield spreads over Germany back up to 390 bps. While the 1.2730-40 support has been broken intraday, a weekly break would signify 1.2550s. CAD ADDS TO LOSSES after July annual core CPI slows to 1.6% from 1.7%. Dow futures double losses to 42 pts. Both EUR & GBP shed losses vs USD and JPY but EURGBP ACCELERATING SELLOFF testing 0.8160s, abreak of which to extend towards 0.9115-20.


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