Archived IMT (2010.01.25)
European equities push higher amid stabilizing fears from the Obama financial regulation plan and hopes that Fed Chairman Bernanke will get the necessary votes to be renominated for a second term. Dow futures are up 90 pts to 10,241. Monday rebounds following negative weeks in equities are a usual occurrence. The real test for the markets begins on Tuesday amid UK Q4 GDP and Germany IFO. FTSE-100, Dow-30 & S&P500 will attempt regaining their 100-day MAs at 5356, 10452 and 1114 respectively. EURUSD remains capped at Fridays resistance of 1.4280, Cable capped at $1.6210, while AUDJPY attempts to regain the 82.20-25 trend line resistance, which is seen acting as an interim obstacle. A break above it will face a more challenging barrier at 82.70, which will likely impose itself on the series of potential event risk this week.
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