Intraday Market Thoughts

Archived IMT (2009.03.02)

by Ashraf Laidi
Mar 2, 2009 15:54

Todaty's Hot-Chart on EURGBP is already up 60 pips since publication (password required for access). USDNOK breaks further to the upside, now targetting the 7.20s, which is the top of the weekly consolidation prevailing since October. Shorts are increasingly squeezed at the 7.2600-7.3000. Yen loses further ground vs USD, while other currencies also weakening vs JPY but far off their lows. USD shows least resistance in rallying during eroding risk aversion while JPY gains remain short-lived. CAD & GBP downside looms further.


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