The euro was weak
Euro Friday as a weaker U.S. dollar index was significantly higher, at present has reached the mark of 83 integers. Day map, it rallies round of the dollar index reached only 38.2%, taking into account the current foreign exchange market as a whole higher level of risk aversion, the dollar index is expected to still be able to continue to rise shortly. At the top of the 84.5 to 85.5, there exists strong pressure, but if risk aversion further warming, the dollar index will not rule out a breakthrough in the future of this range, the impact of the year highs.
Last Friday night, the New York market is basically not important news released, all major currencies relatively stable, the Australian dollar was relatively prominent, obvious strength of the range; while the euro was weak, fell to 150 basis points. Direct cause of the euro's decline is that the ECB's Governing Council member Axel Weber Friday speech, suggesting that Europe's loose monetary policy will be maintained, this position makes the market for the euro is facing deeply concerned about the adverse situation, caused by pressure on the euro.
Friday night, the U.S. stock market continued sagging state, while crude oil prices fell below 74 U.S. dollars; contrast, the U.S. 30-year bond higher. These are that the market's risk aversion is high, willingness to invest is reduced.
EUR / USD: High: 1.2832 Low: 1.2661 close: 1.2705
The French Government announced its 2011 economic growth forecast from 2.5% to 2%, causing uneasiness in the market, the formation of pressure on the euro. Weber in his speech Friday, the euro fell sharply to below 100-day and 3-month upward trend in composition of the double support at present, is located at 1.2664 hit after the 55-day rebound slightly. As a key resistance level was below the euro will slash the market outlook is likely to sharply lower again. According to wave theory, now the euro in three waves down the C wave, below the target bit to see in the vicinity of 1.23.
GBP / USD: High: 1.5597 Low: 1.5460 close: 1.5531
Index of strength of the dollar, sterling has remained weak recently, but the decline is not obvious. The most important message recent days the British have not baked, but from the beginning to the present, the UK's key economic data released basically stronger than market expectations, the trend of the pound can form a little support. This week Britain's second-quarter GDP data related to, a greater impact on the pound. Technically, the pound was supported in 1.55 above, but the direction is still down, investors rebound in the vicinity of the possibility of 153 more pounds before the point position for the 38.2% retracement of the rally, while not far from the 55-day , supporting stronger.
USD / JPY: High: 85.85 Low: 85.17 close: 85.61
Japanese Prime Minister Naoto Kan and Central Bank Governors meeting this week possible, to discuss including the exchange rate series of economic problems. As the market forecast prepared to intervene in currency markets the Japanese government, which is more sensitive to such high-level contacts, if the meeting reveals a strong intention of intervention, then the yen may be suppressed. Currently the yen is still hovering in the 85-86 area, the direction is not clear, but the pressure drop is relatively larger.
AUD / USD: High: 0.8941 Low: 0.8839 close: 0.8939
Australia's central bank vice president Batailinuo Friday commented on the Australian outlook, a more optimistic view, but no mention of further rate hike. Although his speech on the Australian dollar at the time did not cause too much disturbance, but after all to strengthen the market for Australian optimism, indirectly leading to the Australian dollar's move up late Friday. Technically, the dollar rebounded after touching the 100-day, and ultimately failed to shock interval of the previous high of 0.886 for a breakthrough in the formation of effective, this may be a sign of recovery in Australian dollars. But in the strengthening U.S. dollar environment, the Australian dollar is expected to rebound even if the rates are more limited, again rose 0.92 broken unlikely.
USD / CAD: High: 1.0513 Low: 1.0378 close: 1.0476
Friday, Canada announced weaker than expected consumer price index, on the Canadian dollar had a negative impact and lead to further weakness in the Canadian dollar Friday. Technical point of view, the U.S. dollar against the Canadian dollar has a downward trend worn repression, the next higher probability of increase, however, because the Canadian dollar is still in wide swings and are expected to unilateral trend would not last long, the future of the Canadian dollar one may seek support towards 1.065.
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