Non-US currencies rose across the board
Technical graphics point of view, the dollar index since 2009 in one fell swoop below the rising trend since the 4 quarter, after 83.5 in the 100-day near the steady, if this trend can not be returned to the top of the trend is expected to be more negative market outlook, the first target in May 10, low 83, but below the support at the high point of 82.24 in March rally.
Yesterday, the European session began shortly after Greece announced that sale of 1.625 billion euros a successful 6-month bonds to yield 4.65%, slightly lower than the EU / IMF lending interest rate of 5%, this event has a symbolic meaning, that Greece qualified adopted in May to finalize the EU / IMF bailout since the first issue of bonds test, return to the capital market. Although before the financial position of Moody's medium-term deterioration of the grounds will be downgraded two levels from Portugal, triggering the euro fell, but the market is clearly more concerned about the good news front, the euro quickly pared losses. Night, the U.S. company's quarterly earnings generally better than expected, encouraging the U.S. stock market soared, risk will increase significantly, non-US currencies all up. The U.S. trade deficit unexpectedly expanded in May also weighed on the dollar.
The boost in optimism, investors ignored the U.S. crude oil inventories increased last week, the news, crude oil futures prices rose sharply to close at above 77 U.S. dollars. Since before the U.S. macroeconomic data show that the slowdown in U.S. economic recovery, so investors pay special attention to the U.S. earnings season revealed the information, and aluminum in the United States announced last night was stronger than expected performance, the U.S. stock market rose sharply, The Dow Jones index closed up 1.44%, while Intel reported results after the close of stronger than expected for tonight's continued strength in the U.S. stock market foreshadowed.
Euro / dollar: the highest closing price of 1.2737 the lowest 1.2520 1.2725
Last night, the euro rose sharply to a maximum of two months hit 1.2737 high. Fundamental point of view, the recent Spain, Greece and other countries have successful bond sale, the short-term optimism overshadowed the long-term concerns, the euro sentiment greatly improved. Technical graphics point of view, the euro has broken through the 1.27 long-term suppression of the host, if the closing out again today, will make the market feel more at ease, both systems also issued bullish signal. Euro market outlook is expected to have up space, target in the April to June down 61.8% retracement of the trend, around 1.3 thousand mark. The point is that risk will be announced July 23 the European banking sector stress test results, if signs of banking assets held by the need for substantial debt write-down, it will weaken the euro, 1.25 is a more important support level.
GBP / USD: closing price of 1.5177 the highest price lowest price 1.4962 1.5192
Britain announced yesterday afternoon in June CPI was up 3.2% over the same period, in line with expectations, although this data was the lowest annual growth since February, but still well above the Bank of England's 2% target, investors that the Bank of England may have to start considering rate hikes, pound rebounded strongly. The Standard & Poor's has warned that Monday, given the huge debt burden, the UK risk losing their AAA ratings, so sterling pressure. Graphically, the top 1.52 to 1.5240 range with heavier pressure to stop the current round of pounds have been many times higher, but below the 1.5 support is located near the short-term support, market outlook, the pound is not yet clear, the need to continue observation.
USD / JPY: the highest closing price 88.86 88.63 Lowest 88.00
Japanese yen last night, rose and then fell, closing out the final point star, thus has received a two star, that the market is more hesitant. Days the figure, the previous support level of 89 has been converted into resistance, the U.S. dollar against the yen in Monday tried to break through without success. Due to the recent improvement in risk appetite, so a weaker yen increased the pressure, once the breakthrough 89 U.S. dollars against the yen since early May and will run until the downward trend since the 89.5 in the vicinity.
USD / CAD: the highest closing price of 1.0385 the lowest 1.0273 1.0306
Good employment data by the incentives, the U.S. dollar against the Canadian dollar dropped sharply since last Friday after the 100 day 1.03 are supported, last night was a short break, but back to 1.03 above. Hours a charting perspective, the U.S. dollar against the Canadian dollar was coming back after breaking 1.038 step to confirm, support has been converted into resistance, even near the top 104 are intensive, so the majority market outlook remains bearish. Once the break through 1.03, it will open the run down to 1.015 in the interval.
AUD / USD: 0.8829 the highest closing price of the lowest 0.8680 0.8841
Australian dollar since the July 8 opening round of shocks since the trend of the lower edge of its range for the 86.9, 87.9 on the edge last night with the rising trend of non-US currencies, the Australian dollar broke through resistance at 87.9, open up new space. By observing the technical indicators, 21 through 55 days is given on the day bullish signal, MACD indicators in good condition, the Australian dollar up momentum yet to failure. 0.8876, as in April to May fell 61.8% retracement of the trend and in June has a high resistance to rebound, the Australian dollar could test the area again, once the breakthrough was no significant resistance above the running target is located above the 0.9 mark integer .
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