Intraday Market Thoughts

Archived IMT (2010.08.26)

by Ashraf Laidi
Aug 26, 2010 13:35

JOBLESS CLAIMS GOOD ENOUGH FOR FURTEHR USD WEAKNESS, +473K, which is good enough for risk appetite to improve, but since the overall continue to show clear uptrend, USD to remain on the backfoot. YEN WEAKNESS suggests 80.60s in CADJPY, NZDJPY eyes 60.20. GBPUSD rebound accumulated fresh bids in London trade when GBP strength amassed fresh gains vs. EUR, translating into broader sterling gains. With USD remaining on the defensive, GBPUSD eyes a retest of $1.5570, with the potential of following through 1.5620s in Asia in the event that stocks make one of their typical +1% daily gains before risk aversion sets off agains ahead of Bernankes cautious speech and the potentially ugly revision in US Q2 GDP.


Latest IMTs