Archived IMT (2009.07.03)

Dollar remains generally firm despite smaller than expected losses in Asia and low volume activity in Europe. With US markets out for a long weekend, market activity to start unwinding in a couple of hours. Weaker than expected UK services PMI and disappointing Eurozone retail sales may signal the beginning of the next consolidation in data following the phase of slowing deterioration-which was zealously cheered by the markets. GBPUSD looks to test 1.6270 while recovery cpaped at 1.64 and EURUSD gains seen limited at $1.4070. Trades, Links & Ideas on http://twitter.com/alaidi