18th May - Spain, Greece continue to weigh on markets

No good news to help the markets rally as we head towards G8 w/e meeting.

 

Greece and Spain continue to weigh heavily and equity markets have had a genrally tough session. Sterling and the Jpy were the main points of interest in the currency markets today as most consolidated at the bottom end of their recent ranges. Moody’s Spanish bank downgrade at the end of the day has not helped sentiment.

CURRENCIES
EUR/USD: 1.2700				Outlook
Res	1.2760	1.2820	1.2870	Although the Euro did much as we expected and has broadly .….
Sup	1.2665	1.2623	1.2565
USD/JPY: 79.28				Outlook
Res	79.50	79.80	80.00	In typical Yen fashion, it has the habit of .….
Sup	79.00	78.70	78.50
GBP/USD: 1.5795				Outlook
Res	1.5860	1.5885	1.5910	Sterling has never really recovered from the .…
Sup	1.5765	1.5725	1.5700
USD/CHF: 0.9450				Outlook
Res	0.9480	0.9500	0.9535	Once again, there is not a lot worth adding .…
Sup	0.9400	0.9365	0.9350
AUD/USD: 0.9890				Outlook
Res	0.9950	0.9970	1.0000	The risk trades all took another big hit today, although the Aud has .….
Sup	0.9870	0.9845	0.9800
NZD/USD: 0.7630				Outlook
Res	0.7660	0.7700	0.7730	The Kiwi is consolidating above important weekly trendline.….
Sup	0.7620	0.7600	0.7570