Decline in non-US currencies not in place
Last night market continued to digest the debt crisis and Hungary may be weaker than expected U.S. payrolls data, the withdrawal of funds from high-risk money, but the market overreacted early, last night was not new lows. Since this week the Bank of England on interest rates in Europe and the risk event, expected before the market turbulence will show the trend. But in the medium term, the decline in non-US currencies not in place.
Crude oil futures prices rose slightly, closing at above 71 U.S. dollars, some support for commodity currencies. U.S. stocks are thinly traded and investors more cautious, took to the sidelines, the Dow Jones index ended down 1.16%.
The dollar index faced strong resistance in 88.5, although a short break during the day yesterday, but quickly dropped to below that level. But the current trend of U.S. dollar index rose well, investors have continued to rise in the space, target in March 4, 2009 near the high of 89.624.
Euro / dollar: the highest closing price of 1.1991 the lowest 1.1875 1.1913
Hungary's problems before the market for some over-reaction, yesterday, fell to 1.9 the following day and then adjusted. Hungary is the EU member states, but did not join the euro, making Hungary the euro hurt less directly, but the possibility of default is relatively higher Greece. Once the default, will cause the euro write-down of the assets of the National Bank of Greece and other countries and for breach of contract concerns. Introduced one after another, the euro medium-term trend remains gloomy, the first goal in the March 2006 low of 1.1823, the second goal in the November 2005 low of 1.1638. ECB interest rate meeting this week 4, their economic prospects in Europe and the euro exchange rate euro short-term trends that may affect the view.
GBP / USD: closing price of 1.4462 the highest price lowest price 1.4387 1.4562
As speculation continued to worry about the debt crisis of the euro area investors are switching to the British withdrawal from Germany and debt debt, last night received sterling support once, touched intraday high of 1.4562, the latter driven by weakness in the euro, but were obtained in 21 hours support, limited decline. British crosses from the European perspective, has reached an important support level around 0.82, if not breakthroughs, sterling against the U.S. dollar will face more downward pressure. In the UK general election has been released, the market's attention will be more attracted by the British economic fundamentals, the Bank of England this week, four will be more important to discuss interest rates, investors can obtain a statement from the bank after the economy latest views. Prior to this, less likely to pound fell below 1.42.
USD / JPY: the highest closing price of 1.0678 the lowest 1.0511 1.0609
USDCAD yesterday received the Cross star. As the Canadian dollar currency with commodity currencies and U.S. Department of the double property, so the Canadian dollar in Africa and the United States relatively strong currency. Graphically, with around 300 daily in the 1.075 resistance, above the 1.08 to 1.09 range to stop several times in the early USDCAD the upside. Active investors in the exchange rate reaches the vicinity of the above range of more dollars trying to do.
AUD / USD: 0.8089 the highest closing price of the lowest 0.8084 0.8227
As a representative of high-risk currencies, the Australian dollar last night once again become a victim of risk aversion. At present the fundamentals of the Australian climate is still unfavorable, the formation of death were cross-system, the Australian heavy downward pressure on the market outlook. 0.805 one has to stop the Australian dollar fell for three consecutive weeks, with a strong technical sense, once the breakthrough support the Australian dollar's next target will be the July 2009 low of 0.78 in the vicinity. 5 this week, focusing on the period of Australia's seasonally adjusted unemployment rate is expected at 5.4%, unchanged from the previous month.
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