On Monday and Tuesday the market’s attention will be on the USA and the negative economic implications of the Nonfarm payroll (NFP) miss. Market eyes will also be focused on the bond markets in Italy and Spain. As of last Thursday, Europe seemed to be on the verge of another “accident.” The EURCHF closed the week a fraction above the 1.20 peg to the Euro. The Swiss National Bank will likely be forced to show its muscle. While the peg will not break, news of the attack will rile the FX markets. If this scenario plays out, the Yen should benefit against the dollar and the Euro. If the Yen crosses get cheap, I think it ... (full story)