Intraday Market Thoughts

Archived IMT (2008.11.20)

by Ashraf Laidi
Nov 20, 2008 15:37

Both the Philly Fed and Leading Indicators index fell by more than expected. Phllly Fed at -39.3 from -37.5, while prices paid index plunged to a remarkable -30.7 from +7.2. VIX Index regains the 80 level for the first time in 3 weeks. Neither stocks nor FX markets are showing any hesistancy in quelling risk appetite, with GBPUSD shedding 200 pts to $1.4740, eyeing $1.4640s, while USDJPY breaches below 94.40s, eyeing 93.82. NZD, AUD and EUR are also extending losses vs USD and JPY. EURUSD seen supported at $1.2390, EURGBP seen regaining 0.85.


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