Intraday Market Thoughts

Archived IMT (2011.02.15)

by Ashraf Laidi
Feb 15, 2011 17:51

JUST AS CHINESE CPI was ignored due to the data rejig, US Jan retail sales commanded no attention as the 0.3% increase in both the headline and core figures was attributed to extreme inclement weather. What was the divergence between falling risk currencies and lofty equities has now turned to a convergence downwards for both, to the benefit of the US dollar. The fact that AUDUSD is unable to hold above parity despite rebounding gold attests to the eroding confidence in the high yielder and the confirmation of the Head&Shoulder formation in the pair. As long as 1.0180s continues to hold, AUDUSD is seen retesting the interim 0.9870 support. THE ASHRAFLAIDI.COM LISTSERVER SHALL RETURN TO NORMAL today and IMTs will be sent out by email was the case before.


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