The dollar index will be further down market outlook
Speech by Bernanke boost Wall Street innovation around the largest single-day rise since the market risk sentiment rapid warming, the main risk currencies have rebounded from an intraday low, while the U.S. dollar and yen currency hedging is high from the days of rapid slide. From a technical chart perspective, the dollar index has fallen below the recent increase in access, the below support at the 200-day moving average near 81.31, the top of the resistance in the Fibonacci 61.8% retracement of 83.75 in the vicinity. It is expected that the market outlook, U.S. dollar index could drop further.
The latest data released by the United States, the United States two-quarter gross domestic product (GDP) revised quarter annualized growth rate of 1.6%, 2.4% initial value for growth, but better than expected growth of 1.4%, while a quarter's economic growth rate 3.7%. The data are more likely to ignite the slow expansion of the economy, not into a double-dip recession of hope. Subsequently, the Federal Reserve Chairman Ben Bernanke said the weaker U.S. economic recovery than expected levels, when the Fed will need to take further quantitative easing. As Bernanke comment in line with market expectations, investors confidence in U.S. economic recovery, the United States that rose to intraday high of 83.17, while the non-US currencies are selling pressure once was. But at the same time, Bernanke also discourage investors on the U.S. economy may fall into the second recession concerns, once again to investors that the U.S. economy is facing "non-general uncertainty."
EURUSD: Low: 1.2676 High: 1.2778 close: 1.2762
European Central Bank (ECB) Board member Axel Weber said yesterday that Europe is to achieve self-sustained type of recovery, do not worry about a new round of recession, now is time the financial constraints on the political agenda in the first place. By Weber optimistic view on the European economy, the euro received a boost from the Asia-Pacific market turbulence around the 1.2720 line pattern. From a technical chart perspective, the euro has been breaking up the recent decline, the top of the resistance in the Fibonacci 50% retracement of 1.28 near the bottom of support in the Fibonacci 38.2% retracement of around 1.26. It is expected that the market outlook, the euro continued to rebound in the short term there is still space, but space is limited.
AUDUSD: Low: 0.8842 High: 0.8998 close: 0.8988
Australian recipients of the recent rise in the stock market's rebound, the dollar's weakness, as well as Japanese investors buying. However, the rising Australian dollar is still subject to the Australian election, the coalition government may appear negative political constraints. In addition, from a technical chart perspective, the Australian dollar has been breaking up the recent decline, the top of the resistance in the Fibonacci 38.2% retracement of 0.9112 near the bottom of the 100-day moving average support near 0.8822, it is expected that the Australian market outlook there is still upside, but upside limited.
GBPUSD: Low: 1.5441 High: 1.5539 close: 1.5520
Britain in the second quarter GDP growth revised value of 1.2% over the previous quarter, growth of 1.7% over the same period were better than expected, and the United Kingdom in the second quarter compared with the previous quarter, GDP growth reached the highest since the first quarter of 2001. Affected by this, pound once to get a boost. Graphics from a technical point of view, the pound had already breaking up the recent decline, the 200-day moving average currently receive support around 1.5451, the top of the resistance in the Fibonacci 50% retracement of 1.5668 near the expected market outlook, sterling has continued to rebound requirements.
USDCAD: lowest price: 1.0502 High: 1.0648 close: 1.0511
Canadian dollar rose, mainly due to the U.S. in the second quarter gross domestic product (GDP) chain revised annual rate of better than expected, and the Bernanke speech boost. In addition, crude oil and other commodity prices on the rise in the Canadian dollar also contributed to the severity. From a technical chart perspective, the Canadian dollar since mid-May the two-wave large-scale fluctuations, and constitute a double bottom pattern, see the 4th in the July lows in between 1.0660-1.0680 in itself can refer to more Canadian dollars for the current recent support level. Meanwhile, the dollar against the Canadian dollar in the recent rising channel, the above resistance at around 1.07, below support at the 38.2% Fibonacci retracement of 1.048 in the vicinity, it is expected that short-term market outlook, U.S. dollar against the Canadian dollar is still down possible.
USDJPY: Low: 84.25 High: 85.49 close: 85.19
Japan's latest data showed Japan's core consumer price index in July (CPI) up by 17 months of consecutive decline, indicating that the deflation is still deeply rooted, and predict the threats by the appreciation of the yen, Japan's economic outlook remains fragile not good. For the Japanese authorities may intervene in currency markets to prevent the yen higher vigilance or to help limit further yen gains. Meanwhile, Japan is the most likely selling the yen or the Bank of Japan through the introduction of monetary easing measures to intervene. Affected, the dollar rose slightly against the yen. In addition, from a technical chart perspective, USDJPY is still in the big downward path, the bottom support rail in the Boolean taken down to 84.2 near the top of the resistance in the channel near the orbit of 85.4, it is expected that the market outlook, U.S. dollar against Japanese Yuan will face a choice of directions.
Gold: Low: 1,231.75 High: 1,242.25 closing price: 1236.20
Gold rose slightly, hovering near its highest level in two months, mainly to benefit from economic uncertainty, and thus support the safe-haven appeal. In addition, from a technical chart perspective, gold is still in the recent rising channel, the above resistance at around 1250 U.S. dollars, under the support of their 1230 U.S. dollars in Tongdaoxiagui around, it is expected that the market outlook, gold is still up space.
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