David Sneddon News
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The yen’s strength after the U.S said it would press Japan to refrain from competitive devaluation will prove to be fleeting, trading patterns show.
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The yen may decline to its weakest level in almost four years versus its U.S. counterpart in the second quarter if a key support level fails to hold, according to Credit Suisse AG.
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The euro traded at almost the lowest in four months versus the dollar as officials in Cyprus worked to produce a plan to secure financial aid and avoid the collapse of its banking system.
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U.K. government bonds advanced, with 10-year yields falling below those of similar-maturity Treasuries for the first time in five months, as investors sought haven assets after Fitch Ratings downgraded Italy.
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Italy’s 10-year bond yields may rise to the highest level in four months after breaking above a key level of so-called resistance, Credit Suisse Group AG said, citing trading patterns.
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The U.K.’s benchmark FTSE 100 Index, which is trading near the highest since May 2008, will rally as much as 7.8 percent by mid-February, according to a technical analyst at Credit Suisse Group AG.
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Treasury 10-year yields are poised to rise to the highest level in five months after breaching two levels of so-called resistance, Credit Suisse Group AG said, citing trading patterns.
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The slide on the Standard & Poor’s 500 Index yesterday that broke a four-day rally will continue until it reaches a support level at 1,080, according to the head of technical analysis at Credit Suisse Group AG.
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The euro may drop to the weakest against the pound in almost four years should the currency pair break below a key support level, Credit Suisse Group AG said, citing trading patterns.
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U.S. stocks are facing a potentially “extensive setback,” according to the head of technical analysis research at Credit Suisse Group AG.
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