Intraday Market Thoughts
Archived IMT (2009.04.06)
by
Apr 6, 2009 17:17
While sell-off in stocks is being attributed to a banking analysts highlighting of the ongoing dangers in the banking sector, markets needed little catalyst for a pullback after nearing key threshold (860-865 upside in S&P500). This was the equivalent of $1.50 in GBPUSD, 121.60 in USDJPY and 0.72 in the Aussie-- all key resistance levels. Watch for the RBA decision at 4.30 am GMT, which we expect to keep rates unchanged at 3.25%. Such a scenario would be a positive for the Aussie across the board but if Asian stocks are come under pressure following a negative US session, then Aussie losses may intensify. A 25-bp rate cut is delivered could magnify such selling.0.7020 target stands next.
Latest IMTs
-
Of Gold Extensions مقياس إمتدادات الذهب
by Ashraf Laidi | Apr 15, 2024 16:38
-
Bitcoin performance & Miners Prehalving
by Ashraf Laidi | Apr 9, 2024 17:07
-
English Translation to Arabic Interview
by Ashraf Laidi | Apr 7, 2024 21:01
-
فشل الفدرالي في إقناع الأسواق
by Ashraf Laidi | Apr 6, 2024 14:17
-
Typical Errors on Gold, Silver, USD
by Ashraf Laidi | Apr 1, 2024 16:14