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Archived IMT (2009.06.29)

by Ashraf Laidi
Jun 29, 2009 16:44

Stocks push higher in vacuum of econ data, but will S&P500 succeed in breaking above the 930, representing the right shoulder of the H&S pattern. CAD is the weakest performing currency against top-traded 11 currencies, thus, highlighting CAD losses despite strong oil prices $71.90s. Aussie follows as the next weakest currency, underperforming NZD and EUR. Considering CAD's positioning, any retreat in stocks off their highs may boost USDCAD regain 1.1610.

 
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