Ashraf Laidi
Chief FX Strategist at CMC Markets
Ashraf Laidi
0 votes vote | Click to vote

Intraday Market Thoughts @ 05:24 ET

28 Oct, 2009 @ 06:39 am ET | By Ashraf Laidi


Yen strength remains at the forefront of today's trading as warned in our twitter updates (twitter/alaidi.com), while CAD WEAKNESS intensifies due to 1) more comments from BoCs Carney expressing concern over Loonie strength and 2) oils renewed break below $79.00. We expressed our scepticism with yesterdays Dow gains being mainly driven by IBMs announcement to buy back $5 bln worth of stock. USDCAD breaks 1.0730, eyeing 1.0780. Weekly stochastics suggest 1.0860. CADJPY eyes 84.20. EIA inventory data could trigger more oil downside as crude inventories are seen +1.8 mln barrels. USDJPY eyes 90.55. GBPUSD eyes 1.6250.

International Business Times

  • Size: t1 t2 t3
  • Print: print
  • Email: email
 
IBTimes.com Web
Partners
International Business Times© 2009 The Ibtimes Company. All Rights Reserved. Terms of service | Privacy Policy | Advertising | About Us | Contact Us | Archives