Intraday Market Thoughts

Archived IMT (2009.02.19)

by Ashraf Laidi
Feb 19, 2009 15:08

NOT A TYPO... the Fed Philly Fed plunged to an 18-yr low of -241.3 from 24.3 vs forecasts of no change. The employment and new order components were equally ugly. The higher than expected +0.4% in the Jan Leading Indicators index may be offsetting conditions, but the overall data may impose renewed downside on CAD but is unlikely to prevent USDJPY from breaching the 94.60 high.


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