- The EURUSD his back near the midpoint of the days range (see chart above).
- Price is back below trendline resistance at 1.3089 on the hourly chart below
The week is over, except for the time ticking away.
Weaker US, should not help cure any EU problems. Spanish and Italian yields (see weekly charts below) went the wrong way this week on a yield basis and in relation to the benchmark German bund. As long as debt concern remains on the front pages, this should be the driver in the markets as banks, the EU, IMF cannot afford a debt meltdown in one (or both) countries.
Next week Italy has bond auctions on Wednesday which the market will eye (maturing 2015, 2020, 2023 bonds). Spain is not scheduled to tap the debt markets until April 17th when they are scheduled to issue 12 and 18 month bills and April 19th when they are scheduled to sell bonds (unknown maturity).
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