{"id":78114,"date":"2015-09-11T06:46:08","date_gmt":"2015-09-11T10:46:08","guid":{"rendered":"http:\/\/countingpips.com\/?p=78114"},"modified":"2015-09-11T07:23:42","modified_gmt":"2015-09-11T11:23:42","slug":"dollar-gains-traction-as-bond-spreads-narrow","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/09\/dollar-gains-traction-as-bond-spreads-narrow\/","title":{"rendered":"Dollar Gains Traction as Bond Spreads Narrow"},"content":{"rendered":"<div id=\"inves-1054804333\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">September 11, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>Article by <a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/p>\n<p>The USD\/JPY gained traction against a generally backdrop of complacency follow the extreme volatility that has been experienced over the past three-weeks.\u00a0 This has also been reflected in U.S. swap spreads which have been narrowing and appear at odds with over all increased market volatility. \u00a0This is despite heavy corporate issuance and Fed risk just ahead. The 10-year swap spread hit a narrow of 0.75 basis points compared to September levels of 6 basis points and August highs of +9.75 basis points. That\u2019s the tightest level in 3-years, the last time that spreads went negative.<\/p>\n<p>The exchange rate hit resistance near the 20-day moving average at 120.65, with support on the currency pair seen near the recent lows at 118.80.\u00a0 Momentum has turned positive with the MACD (moving average convergence divergence) index generating a buy signal.\u00a0 This occurs as the spread (the 12-day moving average minus the 26-day moving average) crosses above the 9-day moving average of the spread.\u00a0 The index moved from negative to positive territory confirming the buy signal.<\/p>\n<p><a href=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/09\/jpy-091115.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-9044\" src=\"http:\/\/www.forexcircles.com\/wp-content\/uploads\/2015\/09\/jpy-091115-300x196.jpg\" alt=\"jpy-091115\" width=\"300\" height=\"196\" \/><\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-54242 alignleft\" src=\"http:\/\/countingpips.com\/articles-analysis\/wp-content\/uploads\/2014\/07\/Forex-Time-Logo.png\" alt=\"Forex-Time-Logo\" width=\"262\" height=\"90\" \/><strong>Article by <span style=\"text-decoration: underline;\"><a href=\"http:\/\/countingpips.com\/contributors\/contributor-profile-forextime\/\">ForexTime<\/a><\/span><\/strong><\/p>\n<p><strong>ForexTime Ltd (FXTM)<\/strong> is an award winning international online forex broker regulated by CySEC 185\/12 <a href=\"http:\/\/www.forextime.com\" target=\"_blank\">www.forextime.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Article by ForexTime The USD\/JPY gained traction against a generally backdrop of complacency follow the extreme volatility that has been experienced over the past three-weeks.\u00a0 This has also been reflected in U.S. swap spreads which have been narrowing and appear at odds with over all increased market volatility. \u00a0This is despite heavy corporate issuance and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-78114","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=78114"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78114\/revisions"}],"predecessor-version":[{"id":78116,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/78114\/revisions\/78116"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=78114"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=78114"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=78114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}