- The EUR/USD and GBP/USD rose last week while USD/CHF and USD/JPY fell. - The EUR dropped to its lowest versus the USD since 2010 due to concerns over Spain's larger than expected bailout needs. - Spanish bond yields rose while German bond yields fell, showing increased risk for Spain. - Traders are advised to sell the EUR this week and buy the GBP amid weak US data. Sell USD/JPY at 80.65 and buy at 77.64. USD/CHF fell 150 points and traders should watch Swiss retail sales.

1. JULY 2012
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3. The Eur/Usd and Gbp/Usd opened low and
closed high While Usd/Chf and Usd/Jpy
opened high and closed low last week.
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5. EURUSD
Negative sentiment dominated during the
end-of-week trading as the EURUSD currency
rate dropped to a low of $1.2043 last week.
This came as Spain’s financially challenged
Valencia region requested government aid.
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6. There are now elevated concerns that the
Spanish government is going to need a larger
bailout than originally anticipated, this gave a
day which printed the lowest level the
European single currency had seen versus the
U.S dollar since mid-2010.
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7.  Reports had already come to light on
Thursday that the Budget Minister from
Spain, Cristobal Montero had advised that the
Spanish government is struggling to pay for
its public services.
 Other negative news from the region came
as the ECB (European Central Bank) advised it
was no longer going to accept Greek bonds
as collateral.
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8.  Strong U.S. corporate earnings had seen
global markets trading higher but the
negative sentiment from Europe dominated
the end of week trading.
 German 10-year bond yields dropped to
1.168 percent (a decline of 5 basis
points). The U.S. 10-year Treasury note yield
dropped to 1.4567%. In contrast the Spanish
10-year bond yields moved up by over a
quarter of a percent to over 7.20%.
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9.  The Euro may continue to fall if the crisis is
not corrected. Though the sharp up move
trend on last week Thursday gave momentary
hope to the euro.
 We suggest traders should focus on selling
Euro this week.
 Weekly Signals: Sell @1.2288 and Buy
@1.2118
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10. GBP/USD
GBP/USD moved upwards during the week, as
the pound gained over one cent against the
dollar, closing at 1.5734. There is a host of
key releases in the upcoming week including
the Official Bank Rate, Asset Purchase Facility
and three PMIs. Here is an outlook of the
upcoming events, and an updated technical
analysis for GBP/USD.
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11.  The pound took advantage of some weak
data out of the US, including Pending Home
Sales and GDP figures. As well, speculation
that the Fed government may step in to help
the US economy led to some weakness in the
US dollar.
 Weekly Signals: Sell @1.5759 and Buy
@1.5389
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12. USDJPY
 This week we will Sell 80.65 and buy
@77.64
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13. USDCHF
The Swiss Franc rallied against the US dollar,
as USD/CHF dropped about 150 points,
closing the week at 0.9742. The highlight of
the upcoming week is the Retail Sales release.
Here is an outlook for the Swiss events, and
an updated technical analysis for USD/CHF.
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14. For more information visit:
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