Macneil Curry News
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The yen is poised to weaken even further versus the dollar after breaking a key support level at 100 for the first time in four years, trading patterns show.
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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 Canadian dollar fluctuated against its U.S. counterpart amid speculation the economy is slowing after an unexpected jobs loss last month.
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The euro may fall to a five-month low versus the dollar after breaking the neckline of a bullish head-and-shoulders chart formation, according to Bank of America Corp.
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The euro may experience medium-term weakness versus the dollar and pound as it approaches key levels of resistance against the two currencies, according to Bank of America Corp., citing technical indicators.
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Treasuries dropped, pushing 10-year yields to the highest level in a month, as better-than-estimated corporate earnings damped the allure of Treasuries and sent yields higher at a $32 billion sale of three-year debt.
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A rally in the Dollar Index represents a selling opportunity as the gauge is poised to break out of a “drawn out consolidation,” according to Bank of America Corp., citing technical patterns.
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The premium for later deliveries of crude oil may collapse as the spread between the first two monthly futures contracts follows a “stair-step” pattern, according to a technical analysis by Barclays Capital.
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The dollar may be forming a base against the yen, a move that could spur a longer-term uptrend, according to Bank of America Corp.
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Treasury 10-year note yields fell after reaching almost the highest level since April as the government announced plans to sell $72 billion of notes and bonds next week.
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