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Rising Yields Fight the Fed
Rising bond yields are further hampering the Fed's policy
Ced, going to have revise that eurusd resis to 1.3425 from 1.3414, which was today's high and the 23.6% retracement of the March climb (see my twitter update). Considering the ECB meeting on Thursday, Stress Tests on Thursday evening and US labor report on Friday, there should be plenty of room for volatility and 1.30 in EURUSD. I still expect 1.27 to occur around the time when markets retest the March lows later this summer. June-July.
Mikestiller, technically, 3.30% on the 10-year yield is a major level--38% retracement of the decline from the 2007 high an dis also the 55wk mov avg. Anything abobveb that level and close to 4% would mean more worries about debt borrowing and Fed will have to pull some new stunts on the Quant Easing front.
Is there a level you are watching on US 10 and 30 years which are "game changers" for gold and SPX? I guess I am looking for a level in yields in which equity buyers start to get concerned, reflation vs. inflationary feelings. Thanks
thanks for EURUSD resistance levels, what about support? What are chances we see EURUSD bellow 1.30 this week? Recently when I asked you mentioned that in short term you see EURUSD more closely to 1.26 than to 1.36.
Thanks
Ced
f, we could see an attempt towards 1.50 yet bias remains to downside. Why would such a risk currency be allowed to rally in a week filled of potential event risk?
Ashraf
What is your view of GBP.USD going into the end of trading today and for next week... do you think the sustained levels will mean we will see a final push to the 1,50 level?
Have a nice weekend!
What impact you predict from mentioned stress test results and nonfarmpayrolls on EURUSD next week?
Thanks
Ced
G
Ashraf
Things are changing so fast!! Do you still stand by short NZD/JPY, cap 57, target 50 in 1 week? Is it possible. Pls advise and update constantly. If not working, tell us to quit. Tks.