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Archived IMT (2010.12.10)

by Ashraf Laidi
Dec 10, 2010 14:37

CHINA's INCREASE of RESERVE REQMT RATIO is no longer weighing on market sentiment as participants are expecting the more aggressive option of higher interest rates (borrowing and lending). I noted in last night's IMT that a hike in the RRR would be more market friendly than a hike in interest rates. CAD IS STRONGEST CURENCY OF THE DAY so far after Canada trade deficit dropped to C$-1.71 from C$-2.49 bln. EURCAD eyes 1.3280. $EURUSD pressured by improved USD following the $7bln decline in US trade deficit. $1.3160, followed by $1.31.

 
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