Archived IMT (2011.01.14)
CHINA RAISES RESERVE REQUIREMENT RATIO by 50-bps to a record high 19.5%, but is hardly impacting risk appetite or supporting USD. The floods-damaged Aussie could not recover above parity against parity despite the broadening damage in the US currency. This means that Aussie weakness is best played against the stronger currencies, such as GBP and CAD. I reiterate my medium term bullishness in GBPAUD targeting 1.6130, followed by 1.6350. AUDCAD expected to retest 0.97 support, which can be considered as a prelim target (pref 0.9720). EURUSD rocketed to $1.3450s before retreating to $1.3370s. The much talked-about US-GE 10 year spread shrank to +0.27 from +0.53 earlier in the year. The spread is now resting above its 100-day MA of 0.25. A EURUSD close above $1.3420 would practically seal the deal for the case in favour of $1.3750.
Latest IMTs
-
Deflationary Bitcoin صلابة بيتكوين
by Ashraf Laidi | Apr 24, 2024 11:20
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17