Intraday Market Thoughts

Archived IMT (2009.06.23)

by Ashraf Laidi
Jun 23, 2009 16:06

Slower than expected US exiting home sales and downward revision of prior month send stocks back in the red. USDCAD held above our 1.1460 support before rebounding near our 1.1590 target (1.1580), with resistance holding at 1.1650. USDJPY failed at our projected resistance of 96 and is slated for testing 94.70. NEW LOWS FOR GBPCH at 1.7480, EUR remains robust after ECB's Weber sees no need for ECB to take further policy steps i.e. dampens possibility for Quant Easing.


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