Archived IMT (2009.04.30)

USD dragging EUR, GBP, AUD and NZD off their highs despite surging stocks. JPY and NZD remain the biggest losers. Markets unaffected by looming bankruptcy announcement of Chrusler. Chicago PMI widely better than expected, which could mean tomorrow's ISM manufacturing release could come in ebtter than the expected 38. A close above 880 in the S&P500 and 8,500 in the Dow to provide a powerful new argument for the bulls. NZDUSD targets 0.5620, followed by 0.5580. 0.57 stop intact. USDCAD bottomed just above the 200-day MA of 1.1848.