Short-term dollar is still possible to shock consolidation
U.S. Federal Reserve issued the May industrial production from a revised 1.2% growth of 1.3%, made the market appetite for risk continued to rise, then 各 Africa and the United States currency after another hit the day's Xin Gao, dollar has been suppressed to the recent days is the low. From a technical chart perspective, the dollar index has been suppressed for 21 days moving average, but the overall trend is still rising well below the support of its orbit in 84.8 Boolean vaginal discharge near the top of the resistance in the 21-day moving average near 86.14, the market outlook, U.S. dollar index is expected still possible to organize short-term shocks, but still maintain the medium term up trend.
Last Friday night, the United States announced the first quarter gross domestic product (GDP) increased an annualized 2.7% final value, not and the market value is expected to grow 3.0% in the previous level. However, the United States in the first quarter after-tax corporate profits increased a revised 5.0%, much better than expected increase of 2.4%. Affected by this, the stock market declines reduced the market risk sentiment began to heat up, all the major non-US currencies have changed the previous trend and the day's lows and the dollar is down from days high. Subsequently, the University of Michigan announced the United States in June consumer confidence index final value is 76.0, better than market expectations and last month of data, which makes the market appetite for risk is once again heating up, the non-US currency extended gains and the dollar is to continue commitment pressure drop.
EUR / USD: Low: 1.2250 High: 1.2395 close: 1.2374
The latest data showed the euro zone industrial orders in April rose 22.1%, the fastest rate for 10 years. Although the euro area bond market nervous, but export-led economic recovery continued, but we should also see that the economic recovery is affected by weak external demand and the euro, driven by their country's economy within the euro zone remained stagnant. In addition, the euro zone in May by the Greek budget deficit problem involves the relevant sovereign debt crisis may have affected the real economy. Therefore, the medium term, the euro still faces heavy pressure. In addition, from a technical chart perspective, the euro still at large downward path, the top drag on the track in the channel 124 near its lower support rail in the Boolean band near 1.22, it is expected that the market outlook, the euro short-term rebound slightly possible, but the medium term will continue to decline target bit 1.2.
USD / JPY: Low: 89.19 High: 89.77 close: 89.21
Since the new release of the final first quarter GDP is lower than the initial value and the market expected, and the recent series of U.S. data are weak, which in fact support the U.S. Federal Open Market Committee last week's cautious statements on the economic recovery. Affected by this, the yen strengthened against the dollar. From a technical chart perspective, the dollar fell against the yen out of a wave of momentum, its below 61% support in the Fibonacci retracement of 89.1 near the top of the resistance around 91.54 in the 100-day moving average, it is expected that the market outlook, U.S. dollar against Japanese element will continue to fall.
GBP / USD: Low: 1.4854 High: 1.5077 close: 1.5063
The British government last week announced harsh new spending cuts, easing credit rating may be lowered for concern, and thus provide support for the pound, making sterling rose over 200 points. However, the new fiscal austerity could mean that Britain will face a long-term low growth and low interest rates, which have a significant adverse trend in the late pound, sterling, therefore the medium term outlook remains fragile. In addition, from a technical chart perspective, sterling is still in large downward path, now its broken out of the W end near neckline, the top drag on the track in the channel 151 near its bottom support in the 34 day MA 1.4691 in the vicinity, it is expected that the market outlook, short-term sterling could still rebound, but the medium-term remains bearish.
AUD / USD: Low: 0.8593 High: 0.8760 close: 0.8748
Australia's new Prime Minister Gillard declined to 40% of mining taxes to comment on the move so that the uncertainty facing Australia's mining tax, so that once Australian dollar under pressure. But then, the Australian dollar changed before the downturn, rose 170 points, largely affected by market risk will pick up and boost oil prices. From a technical chart perspective, Australian top resistance near the 55 day moving average of 0.8788, its 34 day moving average below the 0.8534 support near the market outlook is expected, the short term is still rising dollar may.
USD / CAD: lowest price: 1.0337 High: 1.0442 close: 1.0355
The strong dollar, the end of the 4th losing streak of the situation, mainly by rising oil prices and boost the stock market. From a technical chart perspective, the U.S. dollar against the Canadian dollar below the 100-day moving average at 1.0302 support near the top of the resistance in the Fibonacci 61.8% retracement of 1.0458 in the vicinity, it is expected that the market outlook, U.S. dollar against the Canadian dollar will continue to fall.
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