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Archived IMT (2009.11.12)

by Ashraf Laidi
Nov 12, 2009 13:30

CAD IS WEAKEST performer amid major FX, partly amid prolonged declines in oil. Considering the rapid momentum in oil shorts, markets could well probe the interim target of $77.60s. EIA weekly inventory report due 16:00 GMT, expected to show an increase of 1 million barrels of crude oil and an increase of 700K barrels in gasoline. USDCAD tests Nov 8 trend line resistance at 1.0530, which will be decided after the EIA report. Bullish follow-up requires a break of 1.0590. GBPUSD seen capped at 1.6610. US Weekly claims fall to 502K--lowest since 1st week of Jan. CADJPY still capped at 86.20.

 
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