Intraday Market Thoughts

Archived IMT (2010.09.30)

by Ashraf Laidi
Sep 30, 2010 16:26

Ashrafs Video Market Analysis for Reuters Thomson on USDJPY Seasonals & the moving average dynamics between EURUSD and USD Index http://bit.ly/cQeYks FX VOLATILITY SURGES as END OF MONTH and END POF QUARTER on portfolio rebalancing/relocation. Stronger than expected US data (Softer jobless claims and strong Chicago PMI) are boosting the US dollar on the preliminary argument that improved figures will defer fresh asset purchases from the Fed. But this argument appears premature, especially as the Fed itself remains uncertain as to whether (when) it will trigger QE2. USDJPY needed such a figure after negative readings in the Philly and Richmond Fed manufacturing. A confirmation will be required in tomorrow's release of the Sep manufacturing ISM, which is expected at 54.5 from 56.3.

 
 

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