Intraday Market Thoughts

Archived IMT (2009.03.27)

by Ashraf Laidi
Mar 27, 2009 12:42

Sterling lost another cent from the last IMT update as dollar strength prevailed in Asian and early European trade. The 0.2% increase in US Feb consumer spending was in line with expectations but the sharp upward revision to the Jan report helps bolster USD optimism (against doubts of greenbacks reserve currency status). Euro to be highly scrutinized for holding above the $1.33 foundation, a break of which to trigger $1.3255. Im currently in Singapore until mid next week so updates in the site will be less frequent than usual.


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