The EUR/JPY has not moved up through a resistance level and continues to print lower highs and lower lows on the daily chart.

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Forex market volatility expectations jumped considerably through last week’s late S&P 500 reversal, pointing to strong price moves in the days ahead. Of course, the past several weeks have seen considerable choppiness in volatility expectations themselves—thus we hesitate to call for continued breakouts with great conviction.

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Moody’s downgraded Ireland’s debt from Aa1 to AA2 as the rating agency cited a rising debt burden.

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The EUR/JPY appears to be one of the few EUR pairs that remains in a clear downtrend.

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The Euro bounced back on Monday, with the exchange rate advancing to a high of 1.2991 during the overnight trade, but the lack of momentum to bounce back above 1.3000 could drag the pair lower going into the North American trade as the single-currency remains overbought.

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We have just come off a week of some very interesting price action with the major currencies outperforming the commodity currencies in risk positive environments and the Yen more attractive than the USD on safe haven buying days.

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Euro looks to EU stress tests while the Pound tracks the rates outlook as the BOE releases July#8217;s meeting minutes. The Yen and the commodity bloc are anchored to stock markets as the earnings season continues. …
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The Hungarian forint opened 3% weaker on Monday at 289.00 after talks between the IMF/EU and the government ended without an agreement. The IMF criticized the bank tax and the bail out of troubled borrowers, while the EC wanted a deficit target of below 3…
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Heavy selling in US equity indices on Friday has hardly been echoed in the Asian markets on Monday as traders once again contemplate the extent of decline as a buy-on-dip opportunity. Volatility is somewhat muted by Nikkei225 index being closed for market…
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