Intraday Market Thoughts

Archived IMT (2009.07.02)

by Ashraf Laidi
Jul 2, 2009 20:34

Very little suspense in todays market action as the US jobs report deteriorated across the board, allowing USD and JPY strength to emerge throughout the day as stocks stuck at session lows during the course of the session. Our calls pro-USDCAD of more than 100 pips to 1.1620s and going negative JPY crosses (including vs the USD) and pro-USD vs AUD, NZD and GBP have accumulated over 800 pips. We called oil to decline towards 66.50s. Nikkei-225 closed -63 on Thursday but futures are currently calling for -215 pts at the open to 9670, which could extend selloff in JPY pairs.


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