Intraday Market Thoughts

Archived IMT (2009.04.16)

by Ashraf Laidi
Apr 16, 2009 11:04

Cable drops back below $1.49 while EURUSD pulls down to yesterday's lows, reflecting the emerging negative bias in risk currencies to the benefit of the USD and JPY. Bearish stochastic divergence in GBPUSD is now turning into a convergence, while EURUSD struggles to hold above the $1.31 trend line. JPY re-imposes strength across the board as nervousness grows ahead of JP Morgan in less than 30 mins. Citi, BoE and GE earnings also eyed later in week.


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