Archived IMT (2009.08.17)

A 5.8% decline in the Shanghai Composite, a $1.50 decline in crude oil to $66.26 are some of the manifestations of deepening risk aversion in the aftermath of disappointing US consumer confidence and Colonial Bank's failure, which is the 5th largest bank failure in the US. GBP and CAD extend broad declines, with GBPUSD at $1.6365 and USDCAD at 1.0782, eyeing $1.6280 and 1.1120 as interim targets. SSEC Deteriorating technicals http://twitpic.com/e7woq USDJPY eyes 92 for the week.