Intraday Market Thoughts
Archived IMT (2008.11.20)
Nov 20, 2008 5:24
Asian stocks lose more than 5% after the latest plunge in Wall Street. EUR, GBP, AUD, CAD and NZD are all slumping against USD and JPY. USDJPY ENDS 7-DAY CONSOLIDATION, breaching below the 95.85 and is now approaching a vital trend line support at 94.50 seen on the weekly chart. More MARKET-MOVING DATA ahead, starting with the 4.30 am EST release of UK Oct retail sales seen at 1.4% y/y from 1.8%. The 10 am release of the Nov Philadelphia Fed survey index seen at -35 from -37.5 could surprise on the downside as did the NY Empire survey earlier this week. Leading Indicators index seen ... Rest available to subscribers of Intraday Analysis.
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