Daily Forex News

EUR/JPY’s rebound from 119.64 accelerated on Friday and the strong break of 122.60 resistance indicates that a short term bottom is formed with bullish convergence condition in 4 hours MACD. More rise could now be seen towards 125.22 cluster resistance (38.2% retracement of 134.36 to 119.64 at 125.26). But we’d…

GBP/JPY dived to as low as 132.13 initially last week but staged a strong rebound on Friday to close strongly at 136.62. The development indicates that a short term bottom is formed at 132.13 and we’d expect more corrective rise going forward, probably to 38.2% retracement of 150.68 to 132.13…

Treasury yields should continue to decline, albeit slowly as absolute levels are so low, many reluctantly dragged in. Credit spreads will vary as they always do and, as in Argentina currently, some sub-sovereign ratings can be higher than the sovereign ones underpinned by higher recovery rates (according to Moody’s). FX…

The situation in Greece has eased somewhat. Despite the ongoing strikes, the Greek government this week unveiled plans for additional austerity measures which go even further than those demanded by the EU. This has prompted some market speculation that Greece could be paving the way for more concrete aid from…