Intraday Market Thoughts

Archived IMT (2009.12.14)

by Ashraf Laidi
Dec 14, 2009 9:43

GBPUSD to remain capped at $1.6380 and oil prices still face a declining ceiling (lower highs), currently at $72.00. Cadburys latest measures to ward off a takeover from Kraft is proving to limit any upside in GBPUSD. As long as USD index does not close back below its 55-day MA of 75.70, the US currency should help retain its recently acquired momentum. But in the meantime, it is the JPY that is gradually gaining ground, capping AUDJPY and NZDJPY.


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