Intraday Market Thoughts

Archived IMT (2009.04.02)

by Ashraf Laidi
Apr 2, 2009 11:53

Selling accelerates in against dollar and yen as G20 ups funding for the IMF by $500 billion to $750 billion. The news gives extra boost to FX risk appetite, prompting Aussie above 71 cents for first time in 3 months. EURUSD breaks above $1.3360s (beware of any negative surprises from ECB). Todays HotChart calls for near bottoming in GBPAUD after the recent one favouring AUDJPY has now been chattered on the upside. Gold drops towards $915 as markets and financials applaud more resources from the IMF.


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