This past friday, August 3rd, 2012. We saw our biggest move in the Euro of the year. Moving around 218 pips to the upside with incredible momentum and strength. As we enter into this dangerous zone now with Spanish yields trading at around 7.5% there is a direct correlation between how the euro is affected and so are the other markets with the Euro. For the upcoming week, watch bond yields and even with a lighter week for news, lets see if the Euro continues down or makes a push up from all this rhetoric from the BOE and that maybe these politicians will make good on there promises.
note as of today: source dailyfx: Spanish 10-year bond yield is up 3.7 bps to 6.82%, Italian benchmark yields up 2.7 bps to 5.96%. German benchmark yield is down 2.9 bps.
happy trading!
No comments:
Post a Comment