|
||||||||
|
||||||||
|
||||||||
|
|
 |
It May Not Be As Bad As It Looks
The forex is buzzing with comments about the change in the risk environment. The JPY is strengthening against just about everything, stocks are down again following Friday's rout and the USD retraced last weeks losses against the EUR and GBP. However, if the risk environment was really changing, I would expect bond prices to be rising and yields to be falling. So far, this session, the bond yields would dispute this situation.
The 10-year yield is rising, which means bonds are falling. This is not only contrary to the assumed risk bias out there but is against the movement in equities as well. This contrarian movement may indicate that the big correction on the USD is over temporarily. It is also interesting that several of the major pairs have paused at relevant support/resistance levels. I certainly don't think that more adjustments are impossible but it does not appear that we are due for another correction like we saw in late July and August. Also, be sure to check out our blogs, videos, calendar, podcasts, fundamental analysis, technical analysis, trades, and reports at ProfitingWithForex.com
TNX Source: MetaStock Pro FX |
|
|
| PREMIER SPONSORED LINKS |
Any information or material contained in the websites owned and operated by The Connors Group, Inc. (the "Company"), including but not limited to the THEFXMARKETS.COM, TRADINGMARKETS.COM, and THEMONEYBLOGS.COM websites (collectively, the "Websites"), and in the related services and products is provided for informational and educational purposes only. The information or material is NOT a recommendation or solicitation to buy or sell any security or other investment vehicle. Please review our full Disclaimer prior to using the Websites. Furthermore, your use of the Websites and all related services constitutes a legally binding agreement under the Company's terms and conditions. Please review the Terms and Conditions of Use. To better comprehend the Company's other practices and policies, please review the Privacy Policy and the Editorial Policy.
Copyright © 2008 The Connors Group, Inc.
<< My Home | The FX Markets Blog Home