Portuguese yields spike on Gross tweet

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Yields are 15 bp firmer on the day after Bill Gross opined that Portugal will need a debt restructuring.

Yields are at 11.99%.

EUR/USD continues to find buying just ahead of the 10-day moving average at 1.3295, now trading at 1.3311.

If we don’t break 1.3300 soon, look for a short-covering rally on a break above 1.3325. Sellers return toward 1.3350/55.

2012-04-03T14:30:52+0000

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Portugal

Jamie Coleman

3 Comments

  1. No news is good for euro, but euro is still holding ground, I don’t see how can brake that 1.3300!? Looks unbeliveble strong, never see something like this last few weeks!?

  2. Good morning Jamie,

    Well done ;-)

  3. You were right on the spot, Jamie :-) I hope the short-covering breaks that 1,34 barrier in order to create a false breakout on the daily chart and a double top on the weekly chart and finally “convince” everybody that the trend is for the downside. Just my opinion :-)

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