Intraday Market Thoughts

Archived IMT (2009.12.01)

by Ashraf Laidi
Dec 1, 2009 15:14

Net-Net, the trifecta of the US data releases was on the positive side as US Nov manufacturing ISM fell to 53.6 from 55.7, employment index fell to 50.3 from 53.1, while new orders rose to 60.3 from 58.5. Oct pending home sales +3.7% after +6% in prior 2 months. US stocks still hold in +0.9% territory, while oil stands above $78 but initial pressure seen at $78.60s remains the next barrier before the key $79.50 trend line emerges. AUDJPY still unable to break above 80.30, but a close below 79.65 trend line support could call up fresh losses towards 79.10. EURUSD capped at $1.5090.


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