17th May - Sell-off slows a little and range bound day looks likely

Greek election announced for 17 June. Markets volatile but rangebound.

 

Markets appear somewhat exhausted today and a little consolidation would not hurt, although overall, markets look t be headed lower in coming days. Ascension day holiday may make for a quiet day ahead, but statements from Greece could provide further volatility. Australian Inflation expectations and US Jobless claims highlight a somewhat uninspiring day ahead.

CURRENCIES
EUR/USD: 1.2716				Outlook
Res	1.2760	1.2820	1.2870	The selloff in the financial markets seems to have largely.….
Sup	1.2670	1.2623	1.2600
USD/JPY: 80.30				Outlook
Res	80.55	80.85	81.00	Us/Jpy touched the 80.55 resistance that we mentioned ….
Sup	80.00	79.65	79.40
GBP/USD: 1.5910				Outlook
Res	1.5935	1.5985	1.6000	The BOE released a dovish quarterly inflation report …
Sup	1.5860	1.5815	1.5800
USD/CHF: 0.9445				Outlook
Res	0.9470	0.9500	0.9535	There is not a lot to add on Usd/Chf today….
Sup	0.9400	0.9375	0.9350
AUD/USD: 0.9916				Outlook
Res	0.9970	1.0000	1.0030	The Aud has hit out first target at 0.9875 …
Sup	0.9870	0.9845	0.9800
NZD/USD: 0.7640				Outlook
Res	0.7660	0.7700	0.7730	The Kiwi has had more or less a straight line …
Sup	0.7620	0.7600	0.7570