Archived IMT (2009.03.26)

As oil nears our $55.20 target from last week, check out todays Hot-Chart on the time lag between EURUSD and oil. Improved risk appetite carries through US markets, bringing the S&P500 closer about 40-points away from the 860-65 territory, deemed necessary to add more conviction to the current rally, beyond just a bear market bounce. Meanwhile. NOK, AUD, NOK and NZD are back at the top of the outperformers, specifically AUDJPY to probe the 70 resistance, while EURAUD to retest the 1.9230 low.