Archived IMT (2009.08.21)

Asia refuses to rally on the oil-driven gains seen in NY. Traders must note how rising prices have a more positive and lasting impact on US equity indices than they do on Asian stocks. While many energy players comprise US indices, Asian firms are known for their energy inputs and the negative impact from rising oil. CAD is first to sell-off as the Nikkei opens down 57 pts. The Obama's administration to terminate the Cash for Clunkers may not be taken kindly by next months data on retail sales, jobless claims and hours worked. Moodys downgraded monoline CIFG to Caa2 from Ba3, leaving door open for further possible downgrade. Watch out for Bernanke reiterating the FOMCs decision to slow down the pace of purchase of Treasuries. GBPUSD 3 Hr Slow Stochastics http://twitpic.com/enusi $$ OIL seen losing over $3 by end of NY Friday below 70 ttp://twitpic.com/els28