Intraday Market Thoughts

Archived IMT (2009.09.18)

by Ashraf Laidi
Sep 18, 2009 14:51

AUDUSD on course for extending declines following yesterdays bearish candle, but 0.8610-15 must be broken before additional retreat calls ups 0.8540s. Conflicting signals about whether the FOMC wants to start withdrawing liquidity are making the rounds, but many G20 nations intend to oppose the US intentions to sell some of their banking stakes. Traders must be aware that a host of events in the US (IMF/WB meeting in DC, UN conference in NY and G20 in Pittsburgh) could include some USD-supporting remarks such as the sale of gold proposed at the April G20.


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