Bernanke heard the negative side the currency risk fully down
U.S. dollar has fallen below the 8-month upward trend, the overall index from the cloud under the break is also within reach. While the dollar index rebounded strongly last night, but I think this is more a return to the trend test, rebound goal of this round is expected to range between 84.00-84.50, followed by U.S. dollar is still room to fall. Recommended investors, the dollar rallies to lighten up, high interest rates gradually increased holdings of Australian currency risk.
July 21 evening the dollar index rose to close at 83.24. Wednesday night-intensive U.S. firms to report results, including Morgan Stanley, Bank of New York Mellon, Johnson & Johnson, Starbucks, Yahoo and other giants were mixed. Investors should be pleased that the strong financial performance, driving U.S. stocks open higher. As the market focus on U.S. Federal Reserve Chairman Ben Bernanke speech later in the day, earnings reduced influence on the market. Bernanke said the U.S. economic outlook was "very uncertain" economic recession are particularly at risk again in the same time, also faces rising inflation, low consumption and other problems. Federal Reserve claims that the future is likely to continue to lower the reserve ratio or the purchase of the assets of plans to support the economy. Overall, Bernanke's remarks the negative side, resulting in substantial attenuation of market risk sentiment, the overall lower risk of currency against the U.S. dollar.
EUR / USD: Low: 1.2730 High: 1.2913 close: 1.2760
The euro plummeted against the dollar, closing 1.2760. German Chancellor Angela Merkel said the stress test must be passed to rebuild investor confidence in the banking industry, saying the conditions of the test was "very real." Member Nowotny said the central bank, the euro appreciation on exports and economic growth slightly, the central bank may raise the growth forecast this year. There are signs that the euro area banking sector stress testing results may be biased positive. Technical point of view, the trend of relatively weak euro in pounds shy away from the medium-term trend reversal paid off. Combined with the dollar, the euro is likely to reverse this start up, target 1.3200/1.3900. Recommended investors: Continue to hold pre-long, not because of substantive European debt crisis resolved, holdings of the euro must be careful.
USD / JPY: Low: 86.84 High: 87.47 close: 86.96
U.S. dollar fell against the yen, closing 86.96. USDJPY continue to fall, recently hovering around 87.00. Technically, the U.S. dollar against the yen is still among the downlink channel. But we must note, 87.00 yen, a record high one, with strong technical sense and psychological significance. No substantial improvement in Japan's economic situation, the Japanese government is unable to confront the strong yen. Recommended investors: Yen rallies taking long, wet storage aggressive investors may hold short yen.
GBP / USD: Low: 1.5123 High: 1.5334 close: 1.5170
Sterling fell against the dollar to close at 1.5170. 21, at the Bank of England published the July meeting. Records show that the Bank of England that British economic growth might be weaker than previously expected, while inflation increased at least the situation would continue for some time. Depress output because of budget measures, the risk of long-term interest rates increased substantially decreased. Although the economic fundamentals are still good, but after the initial £ oversold needs a strong rebound. Technical point of view, the pound has taken the lead to Win, to achieve the medium-term trend reversal, the next target 1.5600. Recommended investors: to continue to hold sterling long, and can bargain Jiancang pounds overweight.
AUD / USD: Low: 0.8760 High: 0.8859 close: 0.8767
Aussie dollar fell against 0.8767. Commodity currencies camp, on the 20th night the Bank of Canada raising interest rates again, commodity currencies national prosperity. Market view is that Australia also will resume raising interest rates in August. In good economic fundamentals support stronger Australian dollar. Technically, the Australian stepped back in May 38.2% retracement of the 0.8100 resistance after continuous breakthroughs 0.8600,0.8700, almost has announced the completion of the re-adjusted up. From the cloud to see the Australian dollar from the mid-turn has only one step, investors expected to continue upside. Recommended investors: to continue to hold, Buying Australian target 0.9000/0.9400. As the Australian dollar is a high interest rate currencies, recommended investors hold.
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