(Headline to read 1.0250 instead of 1.02650 strikes)
• Off 0.05% early after closing down 0.5% with the U.S. dollar up 0.5%
• Yield spreads widened after strong US jobs data sparked US inflation fears
• 10yr bund closed +4bp to 2.576% and 10yr Treasury yields rose 8bp to 4.763%
• Chances of a viable French budget deal with the Socialists make progress
• Charts - daily momentum studies ease, 21-day Bollinger bands slide
• 5, 10 & 21-DMAs slip, weekly moving averages fall - a negative trending bias
• Friday's 1.0312 top, then last week's 1.04537 high are initial resistance
• 1.0212 low on Friday then 1.0195 0.618% of the 2022/2023 rise first supports
• 1.0200 3.887 BLN and 1.0250 2.507 BLN are the close
strikes for
Jan 13th
Andy
(Andrew Spencer is a Reuters market analyst. The views expressed
are his own.)