Intraday Market Thoughts
Archived IMT (2010.04.26)
by
Apr 26, 2010 11:21
EUROZONE SPREADS SOAR FURTHER as Greek-German 10 year spreads hit new record of 6.35% and Portuguese-German 10 yr spreads at 2.14% from last weeks 1.8%. More doubts were thrown about the expediency of a German disbursement after parliamentary floor leader Kauder said Greece has NOT YET met the conditions required to reduce its budget deficit. EURGBP breaking further below the 100-WEEK MA and the 50% retrcmnt (0.8750) targetting 0.8440 later in quarter. US CRUDE capped at 85.60 trend line. Chancellor Merkel to make a statement at 13:00 GMT. Cable seen supported at $1.5390 (NOT $1.5490). Ashraf interview on CNBC Friday with Maria Bartiromo the Baltic Dry Index, copper, gold, China's trade balance and Brazil's Bovespa http://stk.ly/anojz8
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