Intraday Market Thoughts

Adding Weekly EURUSD Chart to Premium, Yen Hammered

by Ashraf Laidi
Oct 12, 2011 13:56

We've added the weekly EURUSD chart to today's premium analysis (posted earlier in the morning) with bullet analysis. Yen is damaged across the board as bond yields punish the low yielding currency. US 10 year yields break above the 55 dma for the 1st time since July. Our longs in EURJPY were unfilled by 6 pips. The risk trade turns from solid to aggressive. DIRECT ACCESS: are the Subscribers click here UNLIKE IN THE PRE-QE DAYS when rising stocks were a reflection of falling bond yields, rising stocks are backed by higher bond yields (as used to be in Pre-QE days in the 1990s-2000s). The 0.95 daily correlation between US 10 year yields and S&P500 (highest since March 2008) is playing out prominently today.


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