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Intraday Market Thoughts

By:   Ashraf Laidi
  • 2009-03-07
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Dollar remains generally firm despite smaller than expected losses in Asia and low volume activity in Europe. With US markets out for a long weekend, market activity to start unwinding in a couple of hours. Weaker than expected UK services PMI and disappointing Eurozone retail sales may signal the beginning of the next consolidation in data following the phase of slowing deterioration-which was zealously cheered by the markets. GBPUSD looks to test 1.6270 while recovery cpaped at 1.64 and EURUSD gains seen limited at $1.4070. Trades, Links & Ideas on http://twitter.com/ alaidi

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Ashraf Laidi
Ashraf Laidi is Chief Strategist of CMC Markets, founder of AshrafLaidi.com and author of the newly published "Currency Trading & Intermarket Analysis". At CMC Markets, he oversees the analysis and forecasting functions of key currency pairs as well as decisions and trends of the ...

 
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