Archived IMT (2009.10.23)

UK Q3 GDP DUE at 8:30 am GMT (9:30 am BST) exp +0.2% q/q from previous -0.6% and exp -4.6% y/y from prev -5.50% y/y. German October IFO Business Climate index did rise but fell short of expectations as the Business Climate Index hit 91.9 (vs exp 92); Current Conditions at 87.3 (vs exp 88.0). EURUSD 4 HOUR chart suggests further pullback towards $1.4960. GBPUSD regains the $1.6660 resistance and is now ready to test the key $1.6730 obstacle, which is the right shoulder of the major H&S formation. A close above this level today would be an extreme positive for GBP. USDJPY regains 91.70, a break of which calls up 92.30.