Asia City on the 19th British pound against the dollar bottomed out rebound - institutions Perspective - Global Exchange Network

Asia City on the 19th session, the British pound against the U.S. dollar to 1.9536 exploration to stabilize, then picked up to some extent, under 1.96 in intraday volatility. Dollar short-term actions could have on, but above the average heavier resistance, a high degree of concern rebound; today may be on trial after finishing 1.96. Last Friday pound against the dollar after finishing shocks rapid Elevated benefited mainly from the weak dollar. Asia and Europe during most of the time against the five-day MA around fluctuations in early North America, the United States announced in April housing starts improved accident, sterling lower short-term, lowered to 1.9439, the United States announced early May consumer confidence index fell to 28 Low against dollar, pound sterling against the dollar quickly move up the homeopathy, to 1.9597 and eventually to close at 1.9551. Last Friday the international foreign exchange market, the dollar decreased significantly, to more than two weeks low of 72.69, the lower-than-expected University of Michigan May consumer confidence index combat. The same day the United States announced in April housing starts unexpectedly increased in number, clearly shows that the sluggish housing market sentiment began warmer, but the University of Michigan May consumer confidence index for the mid-59.5, 28 dropped to the lowest level in April to 62.6 , Below expectations of 61.0, which suppress the dollar sentiment. NYMEX crude oil futures ended higher prices than the first 126 U.S. dollars, the same day high of close to 128 U.S. dollars a record high, why is the increase in oil prices Goldman Sachs estimates. COMEX gold on the 16th closed up 2.3 percent, the dollar fell and oil prices rose Puzhang driven commodity markets, gold for the second consecutive trading day significantly higher, to three week high, and closed at 900 U.S. dollars above the juncture . Sterling was more likely to move up the kinetic energy from the dollar correction. City early today-the United Kingdom announced on May Rightmove house prices rose 1.2 percent year-on-year by 2.2 percent to 242,500 pounds, hit a record high in history. However, in May of each branch of real estate brokers The inventory of unsold homes rose to 73 from 69 sets of sets, a record high. British real estate market showed high current situation of stagflation. Technically, the British pound against the dollar in three consecutive weekly decline after last week at a slightly longer under the shadow of the small Yangxian, 08 and the lowest since on stabilize, stabilize a certain sense, the current momentum to continue to rebound , Attention can break through a number of weeks at the top of MA plans, the first resistance at 1.96, but days of technical indicators slightly overbought, the exchange rate will be consolidation likely to continue on trial 1.96; support: 1.9550,1.95. Britain will announce Thursday retail sales in April and May CBI industrial orders index, and so on. News of a more subdued this week, the Fed announced Wednesday will be credited to the meeting.

May 19 analysis of foreign exchange movements - institutions Perspective - Global Exchange Network

See the United States to undertake last week in April retail sales excluding autos, sales rose 0.5 percent after better than expected, the Cleveland Fed president Pianalto said that the U.S. core CPI rose by than she expected to be fast, inflation is the economy - The main risk to. Chairman Ben Bernanke said the Fed for the market to provide additional short-term liquidity will help the efficient functioning of markets, but the situation is still far from normal market participants must ultimately rely on its financing by reducing the proportion of borrowers to raise new capital and to improve risk management is now , And other ways to solve the fundamental problem of financial constraints, this process is likely to spend some time and if necessary the Fed will continue to provide liquidity, once the normalization of the situation, the Federal Reserve will no longer need the short-term liquidity measures. A number of regional president of the Federal Reserve hinted that most of his speech, such as low interest rate level for too long will trigger inflation, Chairman Ben Bernanke said that only consider increasing mobility of the additional measures did not mention the need再减income, the dollar rebounded further depressed the euro Movements. Thursday see Germany and the euro zone first quarter GDP performance was significantly better than forecast short-term boost the euro, but the EU central bank governor Trichet reiterated that second quarter economic growth will be relatively bleak view, the euro then down again. It should be noted that Wednesday see the former U.S. Federal Reserve chairman Paul Volcker said that the depreciation of the dollar is a need for concern, investors if the dollar lost confidence in the United States have trouble; refers to the current U.S. inflation trends and the early 1970s, when a bit The same, the Fed must be on inflation and the dollar to remain vigilant, otherwise the 1970s-style inflation will return. Volcker economic joint meeting of Congress in the comments, since不比in private occasions so severe criticism Chairman Ben Bernanke is the sharp, it has highlighted the growing countries in the Middle East now is not the dollar as the only consequences of the oil trading currency, President Bush visited Saudi Arabia, earlier this week it is possible intervention supported the dollar situation, the euro may at any time but must guard against violence down. This evening the United States will be the publication of economic data: 10.00 PM leading indicator The euro European Central Bank President Trichet said that obviously the euro zone unemployment too high; important that wage increases will not be exhausted productivity growth; energy and food prices to wage a second round effects of inflation risk; particularly close attention to the EU central bank Eurozone wage negotiations. France first quarter non-farm jobs increased by 0.2 percent in the fourth quarter of last year, the figure rose 0.3 percent from a revised 0.4 percent rise. Today suggestions: The euro was 1.5540-1.5740 to buy high-sell low, only earned 100 points, 60 stop-loss. Support at 1.5380/1.5480 Resistance at 1.5800/1.5900 Yen Japan March industrial output revised down to 3.4 percent, down 3.1 percent for the initial value of equipment use of the indicators fell 3.5 percent. Today suggestions: 103.80-105.20 yen in between to buy high-sell low, only earned 100 points, 60 points stop loss. Support of 1.280/103.40 Resistance at 105.00/106.00 £ Britain in April to increase the number of unemployed 7200, March ILO unemployment rate was 5.2 percent, respectively, balanced and forecast 5.2 percent. Today suggestions: Pounds in between 1.9480-1.9680 to buy high-sell low, only earned 100 points, 60 points stop loss. Support at 1.9300/1.9500 Resistance at 1.9700/1.9900 Swiss franc Swiss March retail sales (annualised) fell 2.5 percent forecast by 2.5%. Today suggestions: Between the Swiss franc at 1.0340-1.0500 to buy high-sell low, only earned 100 points, 60 points stop loss. Support at 0.9800/1.0100 Resistance at 1.0400/1.0600 Australian Dollar Australia first quarter of the labour price index rose by 0.9 percent, up 4.1 percent annual rate, forecast to rise 1.1 percent respectively, and increased by 4.3%. Today suggestions: Aussie in between 0.9480-0.9580 to buy high-sell low, only earned 80 points, 50 points stop loss. Support at 0.9180/0.9280 Resistance at 0.9600/0.9800 New Zealand yuan New Zealand first quarter employment figures fell by 1.3 percent, is forecast to rise 0.1 percent unemployment rate was 3.6 percent, is forecast to be 3.5 percent. Today suggestions: New Zealand between 0.7640-0.7880 yuan to buy high-sell low, only earned 80 points, 50 points stop loss. Support at 0.7440/0.7600 Resistance at 0.7800/0.7940 Canadian dollar Canada reported March trade balance surplus of 5.53 billion, is forecast to be 4.5 billion surplus. Today suggestions: Canadian dollar between 0.9940-1.0140 on the buy low sell high, only earned 100 points, 60 points stop loss. Support at 0.8840/0.9900 Resistance at 1.0180/1.0280

损人不利己weak dollar policy Nanjiu the United States - institutions Perspective - Global Exchange Network

Recently, the dollar ended decline, but the Fed has released negative news, the dollar rebounded trend of slowing down, most likely fell again. The international media have accused the United States: Xiangkao laissez-faire depreciation of the dollar to shift the domestic economic crisis. U.S. loan-to-military dimension and the economic crisis hit the burden are turning to countries in the world. This is also causing a global energy and food prices of the important reasons. Comprehensive both inside and outside factors, the dollar did not continue to depreciation of the reasons. From the outside, the national central banks and investment institutions and not the U.S. dollar depreciated significantly when they lose their confidence. In particular, central banks are not the reduction of dollar bonds. The U.S. Treasury Department released data shows that overseas investors in the first quarter of the average monthly purchase 47.2 billion U.S. dollars U.S. bonds, slightly higher than the fourth quarter of last year level. One central banks and other official institutions bought a monthly average 36.1 billion U.S. dollars U.S. bonds, also higher than the level in the fourth quarter of last year. Particularly Japan, China and oil exporting countries, such as foreign exchange reserves big country, in the first quarter of the U.S. bond holders in monthly increments. At the same time, overseas investors in the Federal National Mortgage Association and the Federal Housing Loan Mortgage Corporation bonds issued by the U.S. agency also restored confidence. In December last year, they sold 3.3 billion U.S. dollars of the bonds, but the first quarter of this year, their monthly also repurchased 19.3 billion U.S. dollars of such bonds. From the U.S. perspective, the property market continue to adjust the economic situation has improved, the employment situation is much better than economists expected. In addition, the earlier depreciation of the dollar has made U.S. exports grew by 10 percent, which has become a vital force in promoting economic growth. Overall, the U.S. economy into recession immediately instead of the risk, but there have been improved. At this point in time the United States to stop the dollar rally, it is impossible to understand. In fact, the interest rate cut promoting depreciation of the dollar is not to rescue the U.S. economy, but to save Wall Street, is to safeguard the interests of the United States top the Group. People have noticed that detail, in several recent Fed cut interest rates before the decision, Fed Chairman Ben Bernanke with Bush and U.S. Secretary of the Treasury Paulson held talks, which confirmed the %26quot;United States Government to Bernanke issued an interest rate cut order %26quot;speculation. There are indications that the U.S. exchange rate policy has been a fundamental change. On the one hand, no significant downturn in the economic signs, the dollar radical criticism, commodity prices are still soaring at a再减interest that the U.S. government for short-term interest to give up defending the dollar, the major powers are the responsibility of loss, which would sacrifice the international community and the United States itself to the long-term Interests. On the other hand, to restore the loan-to-crisis on the economic impact, expect the Fed to cut interest rates to contain this Mengyao of economic decline. However, the interest rate cut %26quot;side effect%26quot; is exacerbated inflation, leading to depreciation of the dollar. Through the depreciation of the dollar %26quot;Laizhai%26quot; to enhance competitiveness, and fully shows the U.S. economy has fallen since Gan. In the global capital flows increased today, the dollar cut in interest rates affect the by no means limited to the United States. As an international currency, the depreciation of the dollar led to major dollar traded sharply rising prices of goods, so the world oil, iron ore and agricultural prices rising. In addition to raw materials, semi-finished and finished goods prices also rose sharply in the global outbreak of inflation. World OECD issued the %26quot;2008 Economic Outlook%26quot;, details of the United States through the depreciation of the U.S. dollar acquisition of interests. 2007 U.S. domestic demand grew by 1.9 percent, well below 2006 2.9%, while 2008 will further increase its domestic demand slowed to 1.4 percent. Thus, in 2007 and 2008 the United States will strive to reduce the trade deficit, increase exports in order to promote economic growth, while the dollar depreciation is the rapid expansion of the direct export momentum. 2007, U.S. merchandise exports for economic growth contributed 0.5 percentage points, in 2008 this figure will reach 0.6 percentage points. Therefore, the United States Government believes that as long as the depreciation of the dollar caused by inflation in the United States %26quot;affordable%26quot; to the extent, we can condone dollars irresponsible to continue to devalue. International public opinion also pointed out that global oil prices and higher food prices should blame the United States allowed the dollar depreciation policy, because food prices rose the most powerful countries, are dollars popular countries, depreciation of the dollar led to these countries the purchasing power of food imports Decline. The final analysis, the depreciation of the dollar is the U.S. launch of a foreign %26quot;currency war%26quot; to let other countries share the United States in Iraq and Afghanistan for the military battlefield, the loan-to-the losses caused by the crisis. Dollar strong, the United States from the international market to buy a lot of material. Now the dollar depreciation, substantial dollar and U.S. bonds country foreign exchange reserve losses, but the United States, it is a good thing: to reduce the external debt burden, the increase in the number of inbound tourism, the economic powerhouse of natural increase. Overall, the depreciation of the dollar is the U.S. government passed on to other countries as a means of economic crisis. Governments should be how to deal with the U.S. %26quot;weak dollar%26quot; policy is » On the international market transactions, the first consideration should be given more use of other currencies rather than the U.S. dollar clearing. In addition States should reduce U.S. dollars, increased holdings in other currencies (such as euro), at the same time, some financial and monetary reserves into gold or other material reserves. But the United States, pursuing its %26quot;weak dollar%26quot; policy is not so much to %26quot;revitalize the U.S. economy,%26quot; it would be better described as upset by the world financial and monetary crisis in order pass. But this would be Yinzhenzhike, instead of self-harm, or even harming themselves. For any health Kong-based enterprises, not all of its funds from the loan. If profitable, enterprises will not care about a small amount of interest cost; if not to do business, then no interest-free loans are attractive. For U.S. businesses, cuts in interest rates can reduce the burden, but a steady profit certainly more important than the interest rate cut. The United States a substantial number of necessities and consumer goods are no longer in national production, can only rely on imports, %26quot;weak dollar%26quot; policy will hurt the United States itself. If things continue this way, if the %26quot;weak dollar%26quot; policy is not changed, have not 20, the United States will lose the world top economic power status.

If the euro against the dollar firm 20-day average is expected to continue rebound - institutional perspective - Global Exchange Network

日欧洲盘初欧元兑美元上破 1.56 阻力。 On the 19th was the beginning of the European euro against the dollar, breaking 1.56 resistance. Because the U.S. economic performance varied, the Federal Reserve raising interest rates during the year was expected to weaken, and high oil prices again and again the dollar under pressure. 4 小时图圆弧底基本成立，若能站稳 20 天均线 1.5561 上方则有望延续反弹， 30 天均线阻力位于 1.5652 。 The euro against the U.S. dollar four hours to set up basic plans Yuan Hudi, 20 days if the firm is expected to average above 1.5561 continuation rebound, 30-day average resistance at 1.5652. 日欧洲央行行长特里谢警告称，全球正在经历一场持续的且非常重大的市场调整，决策者应当将维护物价稳定作为首要任务。 On the 19th European Central Bank President Jean-Claude Trichet warned that the world is experiencing an ongoing and very significant market adjustment, policy makers should maintain price stability as a top priority. 1.56 关口，即时报于 1.5613 。 The euro against the dollar by the European Central Bank continued to promote the hard-line position on breaking 1.56 juncture, the Times was 1.5613. 日亚欧盘中欧元兑美元维持震荡。 On the 16th Asia-Europe after the euro against the dollar to maintain shocks. 3 月对外贸易出现赤字，由 2 月的贸易盈余 8 亿欧元降为 3 月的贸易赤字 23 亿欧元 ，数据显示强势欧元降低了欧元区出口竞争力，数据公布后欧元兑美元汇价一度回探 1.5450 附近支撑，但欧洲央行官员讲话仍继续重谈通胀威胁，欧洲央行行长特里谢表示，由于能源价格持续上涨，存在发生第二轮通胀效应的可能性。 Eurozone external trade deficit in March from February trade surplus of 800 million euros reduced to the March trade deficit of 2.3 billion euros, statistics show that the strong euro reduces the euro zone export competitiveness, data released after the euro against the U.S. dollar was back to Exploration near the 1.5450 support, but the European Central Bank officials continue to re-address the threat of inflation, European Central Bank President Jean-Claude Trichet said that as energy prices continued to rise, there in the second round of the possibility of inflation. 4 ％有利于实现物价稳定的目标，欧洲央行的中期通胀目标为低于 2 ％。 European Central Bank governing mime Shi also reiterated the position of the European Central Bank, said interest rates remain at 4 percent to realizing the goal of price stability, the European Central Bank medium-term inflation target of below 2%. Another governing Leibei Shu has also expressed similar views. 4 月新屋开工意外增长，月升 8.2 ％，创 2 年来最大增幅，季调后为 103.2 万户， 3 月数据为月降 13.8 ％，季调后为 95.4 万户。 New York after the U.S. announced the unexpected rise in housing starts in April, up from 8.2 percent to a maximum of 2-year rate of increase, seasonally adjusted to 1.032 million, data for March, down 13.8 percent, to a seasonally adjusted 954,000. The United States showed toughness of the property market the dollar rebound in popularity, but only on the data and could not confirm the U.S. stabilize the property market has bottomed out. 5 月密歇根大学消费者信心指数初值为 59.5 ，为 1980 年 6 月以来最低水平， 4 月终值为 62.6 。 The United States announced later in May University of Michigan preliminary consumer confidence index to 59.5 for June 1980 its lowest level, 4 ending value of 62.6. GDP 比重约 70 ％，消费信心的低迷仍令美国经济笼罩在阴影中。 The United States because consumer spending accounted for about 70% share of GDP, consumer confidence in the sluggish U.S. economy is still shrouded in the shadow of. 6 月份保持利率不变的可能性为 88 ％，低于此前的 92 ％，美联储年底升息的几率降至 78 ％，此前为 100 ％。 Interest rate futures market, the Fed keep interest rates unchanged in June for the possibility of 88 percent, lower than the previous 92 percent, the Fed likely to end rate hikes to 78 percent previously to 100%. 3 月份的动荡过去以后，美国金融市场已经日趋稳定，但他同时警告，未来一段时间，因房屋止赎而丧失住房的借款人可能会面临更多困境。 The U.S. Treasury Secretary Paulson said that in March after a turbulent past, the U.S. financial market has become increasingly stable, but he also warned that the coming period, because of the foreclosure and the loss of housing borrowers may face more difficulties. Atlanta Fed President Lockhart said that the current U.S. inflation rate too high, but may be slowing down, the country economy is facing a significant, serious downside risk. 127.82 美元 ，道指小幅回落， 美元整体承压走低， 欧元兑美元反弹触及 1.56 关口阻力，最终报收于 1.5592 。 At the same time as OPEC members Saudi Arabia and Iran refusal to increase production, oil prices hit record high of 127.82 U.S. dollars, the Dow dropped slightly, the dollar weighed on the overall low, the euro against the dollar rebound hit 1.56 juncture resistance, finally closed at 1.5592. 5 和 10 天均线形成金叉，且汇价突破 20 天均线 1.5561 ， MACD 出现买入信号， RSI 上穿 50 水平。 Technical observation of the euro against the dollar 5 and a 10-day MA Jin Cha, and the 20-day average exchange rate of breakthrough 1.5561, MACD signal a buy, RSI level of 50 to wear on. 小时布林带开口，均线开始向上发散， K 线组合呈圆弧底，若能持稳于 20 天均线上方则有望延续反弹， 30 天均线阻力位于 1.5652 ，若有效突破则后市有望反弹上试 1.58 上方阻力，日布林上轨目前位于 1.5867 。 Brin four hours with openings, MA started upward divergence, K packages were Yuan Hudi, held steady at 20 days if the average is expected to continue at the top of the rebound, 30-day average resistance at 1.5652, if effective breakthrough is expected to rebound investors on trial 1.58 Resistance at the top, Brin, now at 1.5867 on track. 20 天均线 1.5561 下方，则将回测 5 天和 10 天均线所在的 1.55 附近支撑。 But if Diehui 1.5561 below the average of 20 days, will be measured back to five days and 10 days MA near the 1.55 support. 日纽约盘初适当关注美国 4 约咨商会领先指标，前值上升 0.1 ％，预期持平。 On the 19th New York in early due attention to the United States about four Conference Board leading indicators, the former value increased by 0.1%, expected the same. 20 日德国将公布 5 月 ZEW 经济景气指数，美国公布 4 月 PPI ， 21 日德国 5 月 IFO 商业景气指数，美联储 4 月货币政策会议记录， 22 日欧元区 3 月工业订单， 23 日美国 4 月 NAR 成屋销售。 Germany this week on the 20th will be published in May ZEW economic sentiment index, the United States announced in April PPI, 21 German May IFO business climate index, the Fed monetary policy meeting in April records, 22 euro zone industrial orders in March, 23 U.S. April existing home sales NAR. 1.6 可能再次遭到欧元区官员的口头干预。 But as long as the European Central Bank continue to be a hard-line position, oil prices remain high, the euro will be bargain hunting buying support, while the greenback was at 1.6 may once again the euro zone officials of verbal intervention.

Dollar's recent gains may not be the end - institutions Perspective - Global Exchange Network

Analysts said dollar rally may have stalled, but this does not mean that the current round of rising prices has ended, government and the Fed policy changes will continue against the U.S. dollar providing support. 5 月 19 日报道，有些分析师认为，鉴于目前布什政府与美国联邦储备委员会 (Federal Reserve, 简称 Fed) 的政策出现了明显的变化， 美元应该能够继续获得支撑。 Comprehensive foreign May 19, some analysts think that, given the current Bush administration and the U.S. Federal Reserve Board (Federal Reserve, referred to Fed) policy has obvious change, the dollar should be able to continue to receive support. Coupled with the oil producers to the United States renewed strong interest in the assets, the market expects the U.S. economy will continue to show more than its competitors signs of improvement, expect the dollar will further move up. (USB) 驻苏黎世的高级外汇策略师 Geoffrey Yu 表示，预计欧元兑美元可能走低，而美元兑日圆可能持续高企的风险加剧。 UBS (USB) in Zurich, senior currency strategist at Geoffrey Yu said it expects the euro against the U.S. dollar may lower the dollar against the yen may continue to exacerbate the high risk. Of course, not everyone is convinced that the market has been the worst phase of the past. (Standard Chartered Bank) 驻伦敦首席经济学家兼全球研究部门主管 Gerard Lyons 表示，到目前为止美元的表现更像是反弹，而不是复苏，因为这种走势缺乏基本面的支撑，这只是在前期疲弱态势基础上的回调而已。 Standard Chartered Bank (Standard Chartered Bank) in London, chief economist and global research director Gerard Lyons said that so far U.S. dollars more like a rebound in the performance, rather than recovery, because this trend of a lack of fundamental support, it is only Early in the weak trend on the basis of the pullback it. He concluded that the dollar decline has not yet ended, the credit crisis will continue. However, other analysts have noted that the U.S. government against the U.S. dollar policy position changes. (Bank of New York Mellon) 驻伦敦的高级外汇策略师 Simon Derrick 表示，这似乎是 2003 年以来布什政府首次试图支撑美元 。 Bank of New York (Bank of New York Mellon) in London, senior currency strategist Simon Derrick said, it appears to be in 2003 since the Bush administration first tried to support the dollar. Fed 对经济增长和通货膨胀风险的评估也出现了明显的改变。 In addition, in the past week about the time, Fed on economic growth and inflation risk assessments have appeared obvious change. 特别提到明尼阿波利斯联邦储备银行 (Minneapolis Fed) 行长斯特恩 (Gary Stern) 发表的评论。 Derrick special reference to Minneapolis Federal Reserve Bank (Minneapolis Fed) governor Stern (Gary Stern) the comments. Stern said that at present the United States of strong economic growth, it is time for a change of policy. At the same time, last week there had been indications that the U.S. economy still exists despite the uncertainty, but international investors re-investment in U.S. assets. (Treasury) 的《国际资本流动报告》称，长期资本流入规模再度增长。 U.S. Department of the Treasury (Treasury) the %26quot;international capital flows report,%26quot; said the long-term capital inflows scale re-growth. 19 日早盘， 美元小幅下挫，因市场担心更为疲弱的美国经济数据可能导致 Fed 的政策立场无法如预期般转为强硬。 On the 19th morning European trading, the dollar fell slightly as the market is more worried about the weak U.S. economic data could lead to the Fed policy stance can not be to tough as expected. 104.10 日圆，纽约汇市 16 日尾盘报 104.20 日圆。 Electronic trading system, this mentality of investors the dollar fell to 104.10 yen, from late New York trading on the 16th at 104.20 yen. 1.5586 美元跌至 1.5577 美元 ，因投资者对本周公布的最新欧洲景气调查结果的担忧情绪主导了市场。 However, the euro from 1.5586 U.S. dollars fell to 1.5577 U.S. dollars, as investors released this week on the latest findings of the European economy sentiments concerns led the market. Although recent data have revealed that the European economy more dynamic, but investors are worried about the pressure of the credit crisis will continue to have an impact, and in the next few months drag on economic growth.

European City intraday high Australian dollar against the U.S. dollar to maintain consolidation - institutional perspective - Global Exchange Network

日欧市盘中，澳元兑美元维持 24 年高位下方强势整理。 European city on the 19th session, the Australian dollar against the U.S. dollar to maintain high 24 under strong finishing. 0.9498 和 0.9540 连接线压力目前所处的 0.9560 附近，有效升破该位有望继续上探 0.96 水平，并挑战汇价自由浮动以来的最高水平 0.9650 附近；但汇价急涨后有回调整固需求，初步支撑位于 0.95 一线。 Short-term exchange rate to maintain a strong finishing high, temporarily blocked in the previous high of 0.9498 and 0.9540 cable pressure now find ourselves in the vicinity of 0.9560, effectively breaking up the place is expected to continue exploration on the 0.96 level, the exchange rate to float freely and challenge the highest level since near 0.9650; But the greenback after the pullback consolidation of soaring demand, the initial first-line support at 0.95. 24 年新高至 0.9574 遇阻，盘中温和回落至 0.9525 企稳，余市基本维持该位上方强势整固。 Asian foreign exchange markets, the Australian dollar against the U.S. dollar last Friday continuation of strong gains, the beginning of a new 24-high of 0.9574 to Yuzu, after moderate fall back to 0.9525 stabilize, more than the basic maintenance of the city at the top of a strong consolidation. 0.9562 ，最新报 0.9550 。 European morning trading slightly Chonggao opinions 0.9562, 0.9550 at the latest. Most of the Australian dollar cross-finishing Cross, with the exception of strength against the Canadian dollar slightly lower outside. 900 美元上方， 19 日高见 911.60 美元 ，最新报 908.80 美元 / 盎司。 Oil prices hit record highs driven gold to return to 900 U.S. dollars at the top, 19 opinions 911.60 U.S. dollars, as reported 908.80 U.S. dollars / oz. NYMEX 6 月原油期货上周五创下 127.82 美元 / 桶的纪录高位。 Goldman Sachs Group last Friday by the substantial increase in crude oil futures prices and expectations of lower dollar to promote, NYMEX 6 last Friday crude futures hit 127.82 U.S. dollars / barrel record high. 认为，油价上涨是由投机、 美元疲软，地缘政治等因素所致，原油市场供应仍充足， OPEC 有足够的剩余产能来满足增加的需求。 OPEC that the oil price hikes by the speculation, the weak dollar, geopolitical factors, such as caused by crude oil market supply remains adequate, OPEC has enough spare capacity to meet increasing demand. 5 月消费者信心指数自 62.6 跌至 59.5 ，低于预期的 62.0 ，并创出 1980 年 6 月以来最低水平。 The data released last Friday showed that U.S. housing markets stabilize, but the University of Michigan May consumer confidence index fell to 59.5 from 62.6, below expectations of 62.0 and June 1980 hit the lowest level since. At the same time sub-index also showed that U.S. inflationary pressures are accelerating the next upward trend. 900 美元 / 盎司上方，支持澳元兑美元再创 24 年新高。 Affected by this, oil prices and sharply higher commodity prices, gold return to 900 U.S. dollars / oz at the top to support the Australian dollar against the U.S. dollar create 24 new high. 4 月份商品进口总额为 174.58 亿澳元 ( 约 166.2 亿美元 ) ， 3 月份商品进口总额修正值为 167.67 亿澳元。 Urban released by the Australia-April imports of goods amounted to 17.458 billion Australian dollars (about 16.62 billion U.S. dollars), in March that the total value of imports of goods to 16.767 billion Australian dollars. Little effect on the exchange rate data. Technical charts show that Australian dollar to maintain high shocks. MACD 线再度金叉，绿柱转化为红柱， RSI 指标金叉后升至 60-70 强势区域， 4 小时及 8 小时图维持升势，但指标略显超买，短线汇价走势维持强势。 MA short-term extension of uplink and Japan re-Jin Cha MACD line, the Green column into Hong Zhu, RSI indicators Jincha to 60-70 after a strong regional, four hours and eight hours plans to maintain gains, but the index slightly overbought short-term Exchange rate movements remained strong. 0.9498 和 0.9540 连接线压力目前所处的 0.9560 附近，有效升破该位有望继续上探 0.96 水平，并挑战汇价自由浮动以来的最高水平 0.9650 附近；但汇价急涨后有回调整固需求，初步支撑位于 0.95 一线，多条均线在 0.9425/50 为汇价提供均线带支撑，关键支撑在 30 日均线 0.9390 附近。 Short-term exchange rate to maintain a strong finishing high, temporarily blocked in the previous high of 0.9498 and 0.9540 cable pressure now find ourselves in the vicinity of 0.9560, effectively breaking up the place is expected to continue exploration on the 0.96 level, the exchange rate to float freely and challenge the highest level since near 0.9650; But the greenback after the pullback consolidation of soaring demand, the initial first-line support at 0.95, the average number of 0.9425/50 to the greenback in providing MA with the support, key support at 30-day MA around 0.9390. 4 月谘商会领先指标。 New York due attention to the United States in April leading indicator of the Chamber of Commerce. 5 月货币政策会议记录，周三澳洲 5 月消费信心指数。 Australia this week to focus on Tuesday May monetary policy meeting records, Australia Wednesday May consumer confidence index. 4 月 PPI ，周四 02 ： 00 美联储利率会议纪要，周五美国 4 月 NAR 成屋销售。 U.S. data are: Tuesday U.S. April PPI, Thursday 02: 00 minutes of the Fed meeting, Friday the United States in April NAR existing home sales. ZEW 及 Ifo 经济景气指数，以判断欧洲经济及利率未来走向。 Also of concern Tuesday, Wednesday and the Ifo German ZEW economic sentiment index to determine whether the European economy and the future direction of interest rates.

Foreign exchange movements ultimately will be decided fundamentals - institutions Perspective - Global Exchange Network

Decoupling of the global economy is gradually being crushed by the cruel reality, the British economic expansion accelerated slowdown, the euro zone economic prospects began wavering, and the initial indications are that the Australian economy began to slow down. Mainly by economic fundamentals fundamental change, the recent sets of income transactions and market risks between the performance of the stock market sentiment and the relevance of weakening, at the same time, although crude oil and other commodity prices continues to rise, but the bulk commodities related national currency movements also failed Consistent. Exchange analysts began to study the various countries to bear the financial market turmoil of how to distinguish between the strong and weak currencies. ◎ sets interest rate risks and transaction relevance of the weakening Recently, the strong performance of global stock markets, but the deal has not been set interest rates rapid expansion. / 日元的另一个重要指标，美国股市的可靠性似乎也在下降。 At the same time, as the dollar / yen Another important indicator, the reliability of the U.S. stock market appears to be declining. Dollars and not like a few weeks ago as a result of the recent rise in U.S. stocks receive the same boost. / 日元以及欧元 / 日元的影响将从目前较高程度开始减弱；而打破这种关联性的原因可能是欧洲央行等一些高收益率货币国家央行可能放松货币政策。 BNP Paribas analyst said that the medium term, the stock market the dollar / yen and euro / yen impact from the current higher level began weakening, and break the relevance of the reason may be that the European Central Bank and other high Yield national currency the central bank may ease monetary policy. Analysts also said that oil prices and the euro has weakened the traditional ties. Oil prices reaching record highs last week, the euro benefited from a limited extent. BNP Paribas believes that these preliminary signs indicate that the relevance of such began to be broken, this will the foreign exchange market have a significant impact. (Brown Brothers Harriman) 分析师则表示，市场已开始打破风险和融资套利交易人气的关联性，而开始真正关注各个国家的具体情况。 Brown Brothers Harriman (Brown Brothers Harriman) Analysts said the market has begun to break the risk arbitrage trading and financing the relevance of popularity, and begin the real concern about the country specific situation. ◎ major currencies decline in the net position of the scale investors divided on the future trend Recently, the foreign exchange market remained stable overall, the U.S. dollar against major currencies mainly in the range consolidation pattern. 136 亿美元减少至 103 亿美元 ，为 11 个月以来最低水平。 Chicago Mercantile Exchange data show that in the week ended last Tuesday, the U.S. dollar of net short position from the 13.6 billion U.S. dollars decreased to 10.3 billion U.S. dollars, for the 11 months since the minimum level. At the same time, speculators held net euro, British pound, Japanese yen net a number of positions. (ABN-Amro) 表示，主要货币净头寸规模下降并不是因为投机者减少了押注，而是空头与多头头寸数量的旗鼓相当所致，对于主要货币的未来走势，投机者莫衷一是。 ABN AMRO Bank (ABN-Amro) said that the major currency net position of the scale of decline is not because speculators to reduce the bet, but short and long positions due to the number of well-matched, the future trend of major currencies, speculators divided.

Today mainly to consolidation - institutions Perspective - Global Exchange Network

Last Friday, the United States in May University of Michigan preliminary consumer confidence index fell 3.1 points to 59.5 points, below the expected range 60.0-66.0. This data is 28, the lowest level. Data may indicate dollar fell to shocks. From the overall trend of the dollar correction will continue to decline. The need to pay attention to currency are made of the resistance, the euro against the dollar, with support 1.5550, after the next breakthrough in support of 1.5500, 1.5600 pressure on the file, after the break up, see 1.5640. Break up the possibility of greater, but the day did not break through 1.5650 support line. British pound against the dollar, with support at around 1.9530, below 1.9480 after the drop goal in the vicinity. 1.9590 stall on the pressure in the short-term breakthrough after a high of 1.9640 to see the potential, not to support the continued gains, mainly in the consolidation from 1.9480 to 1.9640. U.S. dollar against the yen and 104.20 pressure on the file, if not effectively break the dollar against the yen will drop mainly support positions in the vicinity of 103.80, effective after the next break point to 103.20 goal line.

Dollar down high interest rate monetary Chonggao up together - institutions Perspective - Global Exchange Network

On 16 Exchange Market Review

Dollar fell sharply last Friday. Friday U.S. housing starts in April by 8.2 percent, more than two years for the largest increase, that the housing market appears stabilize signs of data to the dollar limited support. U.S. short-term inflation expectations are a new high of 26, investigations revealed that the purchase of housing conditions index fell to 130 from 136; expectations of rising inflation, short-term inflation expectations, jumped 5.2 percent, the highest since a 1982, long-term inflation expectations rose to 3.3 percent. Dollar down mainly because of the U.S. May consumer confidence fell to 28 low, University of Michigan May consumer confidence index fell to 59.5 from 62.6, below expectations of 62.0 and June 1980 hit the lowest level since this Before the data released by the U.S. April housing starts and building permits, a moderate rebound in the slightest optimism overshadowed. Fed officials said Lockhart delivered a speech Saturday, the weak dollar exports to the United States useful, particularly to offset the economic weakness in other areas. Euro / dollar had rebounded to May 1 the highest level since the Aussie / dollar surged to 24 new high. Aussie / dollar hit a new 24 high 0.9560. The Standard %26amp; Poor 500 index closed flat, crude oil prices rose 1.60 U.S. dollars / barrels to 125.82 U.S. dollars. This week the market will be concerned about Wednesday Fed meeting minutes, the Fed is seeking to make more cuts to suspend the hint. Five will announce this week the U.S. existing home sales data, the NAR expected U.S. April existing home sales rate will drop 1.6 percent annual rate of 4.85 million, in March to 4.93 million.

Technical indicators and trend forecast: dollars Chonggao decline, high interest rate currency rose fun

Euro / dollar

Euro / dollar is expected to settle down, the first goal, or see resistance at 1.5600 U.S. dollars. Friday by the European Central Bank President Jean-Claude Trichet speech support, the euro / dollar held steady breakthroughs 1.5500 resistance. Jean-Claude Trichet said earlier that the euro zone unemployment rate is too high, the second round and face the risk of inflation, the central bank will be the euro area to maintain the pay close attention to the negotiations; pre-European Central Bank does not rule out raising interest rates argument to return to the market, the spot The breakthrough 900.00 U.S. dollars / oz at the top also support the euro. German quarterly economic growth in the first quarter of 1.5 percent for the past 12 years the most rapid pace of growth and other economic data Yijun relatively strong, the German support of rapid economic growth, the euro low Choula rebound, Friday U.S. economic data quality Mixed, better-than-expected new home sales in U.S. dollars into the hope of a sustained rebound, but a consumer confidence index in June 1980 the lowest since that consumers are pessimistic about the U.S. economic outlook, triggered the dollar selling. Germany will announce this week the key data, including Tuesday ZEW survey in May, said the Ifo economic climate index.

Technical analysis: the euro / dollar, K Line on the 5th week to a near-shaved head of the Changyang, 5, 10-day MA a %26quot;Jin Cha%26quot;, but the disruption in the currency of flies 1.5600 integral juncture. MACD-0 in the shaft bottom line cut, RSI indicators in the region hovering above 50, were randomly KD indicators watch. The previous day euro / dollar lowered the minimum of 1.5433 after rising sharply to the highest 1.5600. Today is expected to euro / dollar at 1.5470 if support was at the top of the region, will be on the exploration of the resistance at 1.5600. Investors expected upward correction.

Support at: 1.5470 resistance: 1.5600

Sterling / dollar

Sterling / dollar is expected to settle down, or see the first goal of supporting 1.9510 U.S. dollars. Last Friday sterling / dollar continued strong gains, higher-than-expected U.S. new home sales in U.S. dollars to provide short-term support, but weak U.S. consumer confidence index triggered the dollar selling all. According to the British real estate brokers Rightmove Monday released data showed that Britain from April 13 to May 10 over a year earlier, the average housing price rose 2.2 percent to 242,500 pounds (equivalent to 472,000 U.S. dollars), the former value increased by 1.3%; , Without a seasonally adjusted rate of housing price index, rose 1.2 percent. British house prices index in May rose to record highs, although the market expects the housing market will significantly weakening, but housing prices are accelerating gains. England and Wales Institute of Chartered Accountants (ICAEW) The data released Monday show that in recent months, the United Kingdom all sectors of the business confidence index dropped sharply, but the market remains unlikely that the British economy into recession. Little effect on the data.

Technical analysis: sterling / dollar on the map show that soft. MACD-0 in the shaft bottom line development, RSI indicators in the region lingering bearish, bullish indicators were KD. The previous day sterling / dollar lowered the minimum of 1.9440 after rising to the highest-see 1.9598. Today is expected to pound / dollar 1.9650 in the region such as completion of adjustment, will be lowered the support at 1.9510. Investors expected a downward correction.

Support at: 1.9510 resistance: 1.9650

Aussie / dollar

Aussie / dollar is expected to settle down, the first goal, or see resistance at 0.9580 U.S. dollars. Hardware prices rebounded strongly last week and weak U.S. consumer confidence index suppress dollar, global stock markets rise, spreads transactions to support Australian dollar higher. University of Michigan announced Friday, the United States in May University of Michigan preliminary consumer confidence index to 59.5, a June 1980 the lowest since, is expected to 63.0. Spot gold Friday broke through the 900.00 U.S. dollars / oz, hitting 3-week high of 905.00 U.S. dollars / oz; NYMEX 6 crude prices will set a new record high of 127.81 U.S. dollars / barrel. Another Australian media reports, the Chinese authorities plan a retirement fund and Australia jointly acquire BHP Billiton nine percent stake, also supported the Australian dollar. Australian central bank president said inflation is still the most important policy concerns, the consolidation of the market on the Australian central bank is unlikely to cut the expected Aussie support was also evident. The Australian Bureau of Statistics data released Monday showed that imports of goods in Australia in April amounted to 17.458 billion Australian dollars (about 16.62 billion U.S. dollars), in March that the total value of imports of goods to 16.767 billion Australian dollars. The seasonally adjusted, Australia in April, the rate of imports of goods fell 3.0 percent. Australia April imports of goods 17.46 billion Australian dollars. Asian trade Monday morning, the short-term profit-suppressed, the greenback dropped slightly Zigao point of high consolidation trend.

Technical analysis: Aussie / dollar bullish on the map, 5,10 and 20-day MA are long. MACD indicators of the growth in the 0-axis, RSI bullish indicators in the region have pullback, random KD indicators watch. The previous day Aussie / dollar lowered the minimum of 0.9389 after 0.9558 continued to see the highest rise. Today is expected to Aussie / dollar at 0.9440 if support at the top of the region, will be on the exploration of the resistance at 0.9580. Investors expected upward correction.

Support at: 0.9500 resistance: 0.9580

New Zealand yuan / dollar

New Zealand yuan / dollar is expected to settle down, the first goal, or see resistance at 0.7760 U.S. dollars. Spot gold last Friday Friday broke through the 900.00 U.S. dollars / oz, hitting 3-week high of 905.00 U.S. dollars / oz; NYMEX 6 crude prices will set a new record high of 127.81 U.S. dollars / barrel, oil prices are high against the dollar put pressure on. Gold rebounded strongly and the dollar encountered selling all brought to New Zealand yuan rebound opportunity. Friday U.S. consumer confidence index is weakening the dollar encountered selling all, the U.S. stock market held steady, risk preferences sets interest rate sentiment driven trading, New Zealand yuan / dollar quickly rose. Monday New Zealand yuan / dollar Monday closed slightly weaker in Asia. Five will announce this week the New Zealand Government annual budget.

Technical analysis: New Zealand the previous day yuan / dollar on the map display preferences. MACD 0 axis in the line-side development, RSI indicators look at the rose, bearish indicators were KD regional formation Jincha. The previous day New Zealand yuan / dollar lowered the minimum of 0.7618 after 0.7744 continued to see the highest rise. New Zealand is expected today yuan / dollar at 0.7660 if support was at the top of the region, will be on the exploration of the resistance at 0.7760. Investors expected upward correction.

Support at: 0.7660 resistance: 0.7760

Dollar / yen

Dollar / yen is expected to settle down, or see the first goal of supporting 103.60 yen. Japan announced last Friday of a quarter-quarter GDP rate rose by 0.8 percent, higher than market expectations of 0.6 percent, mainly by net exports data lifted. Friday by the better-than-expected U.S. housing starts promoting, the dollar / yen rise rapidly, the United States in April housing starts to a seasonally adjusted 1.032 million, the growth rate of 8.2 percent, setting the largest increase in two years. However, the United States in May University of Michigan preliminary consumer confidence index to 59.5, a June 1980 the lowest since, for the 63.0 expected, the dollar / yen and then continued to fall, below the 104.00 integral support. According to Reuters Monday announced the Japanese Tankan report, due to high raw material prices, slowdown in the U.S. economy, Japan manufacturing business climate conditions over the past five years the first time to pessimistic, May Reuters Tankan non-manufacturing diffusion index was 0 , In December 2003 the lowest level since April the index stood at 3; expected August manufacturing diffusion index for the 3, 8, non-manufacturing diffusion index for 3. Yen may be short-term pressure, but the risk aversion sentiment in the rebound may Diehui downward trend. Bank of Japan Monday for a two-day meeting is expected to maintain interest rates unchanged at 0.5 percent.

Technical analysis: dollar / yen on the map show signs of pullback, the greenback blocked in the 100-day MA. MACD indicators 0 axis strategy has reduced, RSI indicators in 50 regional wandering, random KD bullish indicators in the region downward. Exploration of the exchange rate on the previous day high of 105.09 after the minimum down to 103.53. Today, dollar / yen at 105.00, if fully adjusted to the bottom of the region, will be lowered support at 103.60. Investors expected a downward correction.

Support level: 103.60 resistance: 105.00

Dollar / Canadian dollar

Dollar / Canadian dollar is expected to settle down, see the first goal of supporting 0.9900 Canadian dollars. Friday Spot gold broke through the 900.00 U.S. dollars / oz, hitting 3-week high of 905.00 U.S. dollars / oz; NYMEX 6 crude prices will set a new record high of 127.81 U.S. dollars / barrel. The U.S. Department of Commerce Friday announced the data showed that U.S. housing starts in April to a seasonally adjusted 1.032 million, the growth rate of 8.2 percent, setting the largest increase in two years. Economists had expected, April housing starts to 934,000, down 1.4 percent. University of Michigan announced Friday, the United States in May University of Michigan preliminary consumer confidence index to 59.5, a June 1980 the lowest since, is expected to 63.0, data showed that U.S. consumers of the future economic prospects are very pessimistic, worried about the consumer market Spending slowdown in economic growth may drag the United States. But oil prices Chonggao fall against the U.S. dollar formed a support, NYMEX crude oil prices since the record high of 127.81 U.S. dollars / barrel decline, is now reportedly 126.00 U.S. dollars / barrel.

Technical analysis: dollar / Canadian Yuanri line shows slightly soft, 5, 10, 20 and 30-day MA glue down, MACD-0 shaft bottom line growth, RSI indicators bearish, bearish indicators were KD. Dollar / Canadian dollar exchange rate on the previous day high of 1.0023 after the exploration decline minimum see 0.9943. Today, dollar / Canadian dollar 1.0050 in the region if the bottom of the completion adjustments, will be lowered the support at 0.9900. Investors expected a downward correction.

Support at: 0.9900 resistance: 1.0050

Dollar / Swiss franc

Dollar / Swiss franc is expected to settle down, or see the first goal of supporting 1.0470 Swiss francs. Friday the Swiss Federal Statistics Bureau report showed, Switzerland in March retail sales adjusted for inflation over a year earlier, after declining 2.5 percent. But after a few days shopping and inflation-adjusted retail sales data in March 2007 rose by 9.7%. U.S. data released Friday showed that U.S. housing starts in April rose 8.2 percent, expected to decline 1.4 percent annual rate of 1.032 million, expected 940,000; United States in April building permits increased by 4.9% annual rate of 978,000, The better-than-expected data, the大减Path of the market to the U.S. housing market concerns, but the United States in May University of Michigan preliminary consumer confidence index to 59.5, a June 1980 the lowest since, for the 63.0 expected, the dollar encountered all air - The dollar / Swiss franc fell sharply.

Technical analysis: dollar / Swiss franc on the K line shows soft, below Friday for a 5 and 10-day MA, pressure on the 100-day MA, MACD indicators in the shaft to reduce 0, RSI indicators in 50 regional wandering, random KD Indicators fall short show up more resistance. Dollar / Swiss franc the previous day high of 1.0588 on exploration after the sharp decline in the minimum to 1.0431. Today, dollar / Swiss franc at 1.0600, if fully adjusted to the bottom of the region, will be lowered the support at 1.0470. Investors expected a downward correction.

Support at: 1.0420 resistance: 1.0

The next major currency movements, different views of investors - institutional perspective - Global Exchange Network

Decoupling of the global economy is gradually being crushed by the cruel reality, the British economic expansion accelerated slowdown, the euro zone economic prospects began wavering, and the initial indications are that the Australian economy began to slow down.

Mainly by economic fundamentals fundamental change, the recent sets of income transactions and market risks between the performance of the stock market sentiment and the relevance of weakening, at the same time, although crude oil and other commodity prices continues to rise, but the bulk commodities related national currency movements also failed Consistent.

Exchange analysts began to study the various countries to bear the financial market turmoil of how to distinguish between the strong and weak currencies.

◎ sets interest rate risks and transaction relevance of the weakening

Recently, the strong performance of global stock markets, but the deal has not been set interest rates rapid expansion. At the same time, as the dollar / yen Another important indicator, the reliability of the U.S. stock market appears to be declining. Dollars and not like a few weeks ago as a result of the recent rise in U.S. stocks receive the same boost.

BNP Paribas analyst said that the medium term, the stock market the dollar / yen and euro / yen impact from the current higher level began weakening, and break the relevance of the reason may be that the European Central Bank and other high Yield national currency the central bank may ease monetary policy.

Analysts also said that oil prices and the euro has weakened the traditional ties. Oil prices reaching record highs last week, the euro benefited from a limited extent.

BNP Paribas believes that these preliminary signs indicate that the relevance of such began to be broken, this will the foreign exchange market have a significant impact.

Brown Brothers Harriman (Brown Brothers Harriman) Analysts said the market has begun to break the risk arbitrage trading and financing the relevance of popularity, and begin the real concern about the country specific situation.

◎ major currencies decline in the net position of the scale investors divided on the future trend

Recently, the foreign exchange market remained stable overall, the U.S. dollar against major currencies mainly in the range consolidation pattern.

Chicago Mercantile Exchange data show that in the week ended last Tuesday, the U.S. dollar of net short position from the 13.6 billion U.S. dollars decreased to 10.3 billion U.S. dollars, for the 11 months since the minimum level. At the same time, speculators held net euro, British pound, Japanese yen net a number of positions.

ABN AMRO Bank (ABN-Amro) said that the major currency net position of the scale of decline is not because speculators to reduce the bet, but short and long positions due to the number of well-matched, the future trend of major currencies, speculators divided.

Jean-Claude Trichet speech supporting the euro, 1.5600 against the dollar broke through checkpoints - institutional perspective - Global Exchange Network

Has announced today the importance of financial data Beijing
Time State Indicators released Prev 修正值 ) (Revised) Forecast The actual value / Canada Toronto Rest (Victoria) / Japan 20 日） Bank of Japan monetary policy decision meeting (to 20) USDJPY Monday was the Asia-Pacific and Europe during early trading, the dollar fell against the yen showed. 104.00 关口。 Although the exchange rate set at the beginning was slightly higher, but the European Open, the dollar short-to increase the strength of the dollar rebound encountered resistance, the U.S. dollar against the yen and enveloping his rapid decline below 104.00 juncture. 4 月领先指标。 Today, American disc sessions, the market announced a major economic data is limited, investors will be able to properly monitor the United States in April leading indicators. 0.5% 利率不变，投资者可适当关注。 Tomorrow, the Asia-Pacific-time, the Bank of Japan will announce a new round of interest rate and market expectations that it will continue to maintain the current 0.5 percent interest rates unchanged, investors will be able to appropriate attention. EMA （ 9 ， 15 ， 30 ）呈现良好空头排列，三线下弯，汇价位于均线组下方，指标看跌。 Hours on the map, EMA (9, 15, 30) showed good short order, under the three-bending, in the exchange rate below the group average, indicators bearish. （ 12 ， 26 ， 9 ）中主线于零轴下方成功下破信号线形成死亡交叉，两线间距随后进一步拉开，指标的看跌信号强烈。 MACD (12, 26, 9) in the main line in the shaft below zero signal success breaking a dead-line, two-line pitch then further opened, a strong indicator of bearish signal. （ 9 ）位于平衡区下方，指标逼近弱势区，空方力量占优。 RSI (9) at the bottom of balance area, approaching vulnerable targets, Kongfangliliang advantage. 5 月 12 日起上涨幅度的 61.8% ，即 103.65 附近，因此短时内汇价可能于此附近受到支撑。 Comprehensive view of the dollar against the yen has been taking since the May 12 increase from the 61.8 per cent, or 103.65 vicinity, within the short-term exchange rate may be near this support. 102.30 附近的可能很大。 But in view of hours on the map has become flag-shaped patterns, and the greenback has been in the finishing stage again after the completion of the renewal of pre-down trend, so U.S. dollar against the yen the previous investors continue to decline to 102.30 may be very near. 104.00 附近沽空美元 ，上方止损设于 104.40 一带。 Recommended investors short in the vicinity of 104.00 U.S. dollars, at the top stops in the vicinity of 104.40. EURUSD 1.5600 大关。 Monday was the Asia-Pacific and Europe during early trading, the euro continued strong performance against the dollar break through 1.5600 mark. 1.5600 关口前，并在欧元多头的获利了结打压下，一度回落至 1.5550 附近。 Asia-Pacific trading, the euro against the U.S. dollar showed finishing shocks, exchange rate of 1.5600 to stop before crossing, and in the euro bulls of profit-taking pressure, once fell to 1.5550 nearby. European trading, European Central Bank President Jean-Claude Trichet, delivered a speech, pointed out that inflationary pressures because of oil and food prices continued to rise and face challenges, the government warned the public not to make some wrong moves, in order to avoid second round effects of inflation . 1.5600 平台，目前位于 1.5630 附近。 The speech by the market during the year that the European Central Bank will continue to keep rates unchanged, the euro immediately so heavily sought after buying the euro against the dollar at 1.5600 at one stroke station platform, located in the vicinity of 1.5630. 570)this.width=570;" onClick="window.open('/services/showimage.asp?filepath=' + this.src,'','Status=yes,scrollbars=yes,resizable=yes')" style="cursor:pointer " title="Click to enlarge, see the full picture" height=2 hspace=12 src="AE6-8D3A-1AFDBB6E6C14%7d.files/image002.gif" width=2 align=left> EMA （ 9 ， 15 ， 30 ）呈现多头排列，三线上扬，汇价受均线支撑，指标看多。 Hours on the map, EMA (9, 15, 30) showed with long, three-up, the average exchange rate of support, indicators and more. （ 12 ， 26 ， 9 ）中主线刚与信号线于零轴上方形成黄金交叉，两线间距还未进一步拉开，指标的看涨信号有待进一步确认。 MACD (12, 26, 9) in just the main line and signal lines in the form of gold and cross-axis, two-line further pitch has not yet started, the bullish signal indicators to be further identified. （ 9 ）接近强势区区，多方力量占优。 RSI (9) District close to a strong, multi-power advantage. 1.5580 附近入场做多，上方目标位设于 1.5720 附近，下方止损位设于 1.5540 一带。 Together, the euro against the dollar in the short term up trend to continue, so Yirui the proposed transaction remains unchanged, investors can not yet approach the greenback fell to 1.5580 to be near the admission do more, the top goal-located in the vicinity of 1.5720, Stops at the bottom in the vicinity of 1.5540.
Ming Chen to be announced today and the important financial data Beijing
Time State Indicators released Prev (Revised) Forecast 22:00 United States 月领先指标 April leading indicators 月 +0.1% / Month ％ / 月 ± 0.0% / month 5 / 20 07:50 Japan 月第三产业活动指数 March tertiary industry activity index 月 -1.7% / Month 月 +0.5% / Month 11:30 Japan Bank of Japan monetary policy decision 0.5% 0.5%

Eurozone construction output in March, down 2.2 percent, down 1.4 percent - institutional perspective - Global Exchange Network

The EU statistics agency Eurostat 19 announced the data show that the euro zone in March construction activity decreased.

Eurozone construction output in March, down 2.2 percent, down 1.4 percent. February on the construction industry output rose 1.6 percent, up 4.4 percent.

Eurozone first quarter GDP rose 0.7 percent quarter rose 2.2 percent.

Many economists strong GDP data will be part of the construction industry due to higher than usual activities.

March data may be considered to be affected by the construction activities of the first signs. Germany, Spain and the Netherlands, the construction industry output fell, France unchanged.

Germany reported the greatest decline, down from 12.3 percent. Slovenia construction industry output is also down from 12.25 percent, Portugal, down 7.5 percent.

The European currency MARKET SNAPSHOT: lower dollar, the impact of U.S. inflation worries - institutions Perspective - Global Exchange Network

午盘European trading Monday, the dollar mostly lower, due to concerns of high oil prices and the recent weak U.S. data will allow the Federal Reserve Board (Federal Reserve) will not be as strong as expected.

Recently, the Federal Reserve Board official remarks indicate that they are now on inflation worries, which reduce the market for further interest rate cut expectations.

According to Swiss Bank (UBS) said the market is only expected to cut interest rates again next month and 25 basis points to 10 percent probability, it is expected interest rate increase before the end of the possibility of 85%.

However, the University of Michigan (University of Michigan) the latest consumer confidence survey last Friday showed that U.S. economic slowdown may still be substantial. Survey shows that the confidence index fell to 28 low.

At the same time, crude oil prices continue to rise, last Friday futures contract price rose to 127.81 U.S. dollars / barrel a new high. Although the current oil price fell to 126.02 U.S. dollars / barrel, but oil prices have further noted that people on the U.S. economy drag role.

Federal Reserve facing the dilemma of not only high oil prices will bring about inflationary pressure, but consumer confidence survey also showed that inflation expectations have recovered to 1982 levels not seen since.

Swiss Bank (UBS) in Zurich, senior currency strategist at Geoffrey Yu said the U.S. data may be further deterioration of the market clearly see that the Federal Reserve and the Bank of England facing a (Bank of England) and the European Central Bank (European Central Bank) similar The dilemma that further interest rate cuts by the threat of price stability factor constraints.

However, the Atlanta Federal Reserve Bank President Dennis Lockhart said that the intensity of inflation has eased, and may weaken in the second half of this year.

The market will be waiting for Wednesday in the latest Federal Open Market Committee meeting minutes, see if there are further signs that the Federal Reserve more hard-line stance.

Some people worry about in the first quarter after strong growth in the euro zone economy will slow next few months, this may be reflected in the Tuesday and Wednesday will be the latest business sentiment survey in Germany.

British pound also rose, although most analysts on the latest survey from Rightmove showed that British house prices have rebounded indifferent.

BNP Paribas (BNP Paribas) economists said the data should be ignored. Other house price surveys show that prices continue to deteriorate. Electronic trading system, 0926 GMT, the dollar fell to 103.85 yen, from late New York trading 104.20 yen last Friday.

The euro rose to 1.5605 U.S. dollars, was 1.5586 U.S. dollars, the euro was at 162.09 yen, was 162.40 yen.

U.S. dollar against the Swiss franc to 1.0446 Swiss francs, was 1.0475 Swiss francs. British pound against the U.S. dollar rose to 1.9585 U.S. dollars, was 1.9552 U.S. dollars.

European foreign exchange markets on the 19th午盘U.S. dollar against most currencies lower - institutional perspective - Global Exchange Network

19 日午盘， 美元兑多数货币走低。 By weak U.S. economic data and the impact of high oil prices, on the 19th 午盘European trading, the dollar lower against most currencies. 5 月 19 日报道，由于担忧高原油价格以及近期美国的疲软数据将使联邦储备委员会 (Federal Reserve) 不会像预期那样强硬，欧洲汇市 19 日午盘， 美元兑多数货币走低。 Comprehensive foreign May 19, due to concerns of high oil prices and the recent weak U.S. data will allow the Federal Reserve Board (Federal Reserve) will not be as strong as expected, on the 19th 午盘European trading, the dollar lower against most currencies. Recently, the Federal Reserve Board official remarks indicate that they are now on inflation worries, which reduce the market for further interest rate cut expectations. (UBS) 称，市场目前仅预计下月再次减息 25 个基点的几率为 10% ，但预计年底前加息的可能性有 85% 。 According to Swiss Bank (UBS) said the market is only expected to cut interest rates again next month and 25 basis points to 10 percent probability, it is expected interest rate increase before the end of the possibility of 85%. (University of Michigan) 最新的消费者信心调查 16 日显示，美国经济仍可能大幅放缓。 However, the University of Michigan (University of Michigan) the latest consumer confidence survey on the 16th that the U.S. economic slowdown may still be substantial. 28 年低点。 Survey shows that the confidence index fell to 28 low. 16 日期货合约价格升至每桶 127.81 美元的新高。 At the same time, crude oil prices continue to rise, 16 futures contract price per barrel rose to 127.81 U.S. dollars a new high. 126.02 美元 ，但已进一步让人注意到油价对美国经济的拖累作用。 Although the current oil price per barrel dropped to 126.02 U.S. dollars, but people have been further noted that oil prices drag on the role of the U.S. economy. 1982 年以来所未见的水平。 Federal Reserve facing the dilemma of not only high oil prices will bring about inflationary pressure, but consumer confidence survey also showed that inflation expectations have recovered to 1982 levels not seen since. (UBS) 驻苏黎世的高级外汇策略师 Geoffrey Yu 称，因美国数据可能会进一步恶化，市场明显看到联邦储备委员会面临着与英国央行 (Bank of England) 和欧洲央行 (European Central Bank) 类似的窘境，即进一步减息受到威胁物价稳定因素的制约。 Swiss Bank (UBS) in Zurich, senior currency strategist at Geoffrey Yu said the U.S. data may be further deterioration of the market clearly see that the Federal Reserve and the Bank of England facing a (Bank of England) and the European Central Bank (European Central Bank) similar The dilemma that further interest rate cuts by the threat of price stability factor constraints. (Dennis Lockhart) 表示，通货膨胀力度已经缓解，并可能会在 08 年下半年减弱。 However, the Atlanta Federal Reserve Bank of Lockhart (Dennis Lockhart) said that the intensity of inflation has eased, and may weaken in the second half of 08. 21 日公布的最新联邦公开市场委员会会议纪要，看看是否有进一步迹象表明联邦储备委员会的立场有多强硬。 The market will be waiting on the 21st in the latest Federal Open Market Committee meeting minutes, see if there are further signs that the Federal Reserve more hard-line stance. 20 日和 21 日公布的最新德国商业景气调查中。 Some people worry about in the first quarter after strong growth in the euro zone economy will slow next few months, this may be reflected in the 20 and 21 will be released on the latest business sentiment survey in Germany. Rightmove 的最新调查显示英国房屋价格已经回升无动于衷。 British pound also rose, although most analysts on the latest survey from Rightmove showed that British house prices have rebounded indifferent. (BNP Paribas) 经济学家表示，应忽略该数据。 BNP Paribas (BNP Paribas) economists said the data should be ignored. Other investigations revealed that prices of housing prices continued to deteriorate. 19:25 ， 美元回落至 103.93 日圆，纽约汇市 16 日尾盘 104.20 日圆。 -- 7:25 p.m., the dollar fell to 103.93 yen, on the 16th from late New York trading 104.20 yen. 1.5592 美元 ，之前为 1.5586 美元 ， 欧元兑日圆为 162 日圆，之前为 162.40 日圆。 The euro rose to 1.5592 U.S. dollars, was 1.5586 U.S. dollars, the euro against the yen to 162 yen, was 162.40 yen. 1.0443 瑞士法郎，之前为 1.0475 瑞士法郎。 U.S. dollar against the Swiss franc to 1.0443 Swiss francs, was 1.0475 Swiss francs. 1.9564 美元 ，之前为 1.9552 美元 。 British pound against the U.S. dollar rose to 1.9564 U.S. dollars, was 1.9552 U.S. dollars.

"Dr. Doom": the credit crunch is about to impact the retail industry is far from over - institutional perspective - Global Exchange Network

%26quot;Dr. Doom,%26quot; Mak Ka Wah said that the credit crunch situation is far from over, the impact will not be limited to the area of the housing market, the next target may be victims of the United States and the world of retail.

He said: %26quot;I personally feel that the credit crunch has just begun, and will soon deteriorate, I think, really difficult economy, the United States and other countries under a %26#39;victim%26#39; target is the retail industry. %26quot;

Mak Ka Wah added that the oil and energy stocks strengthened, partly offset by the current market weakness. So many people think, %26quot;We are entering the 1970s, as accompanied by a high inflation environment.%26quot;

But unless the Fed %26quot;produced%26quot; more money and lead to vicious inflation, oil prices will not Zaizhang 10 times. But if oil prices rose really so outrageous, %26quot;We should be concerned about the possibility of inflation is not, but the civil unrest.%26quot;

China and India, these two countries because of cheap labor, the countries will have long-term suppression of prices at a relatively low level. But now, the situation is changing. Mak Ka Wah said: %26quot;If we do not push up the prices of manufactured goods, will not be able to survive, the two countries will bring the global economy inflationary pressures.%26quot;

But as the U.S. current account deficit narrowed to absorb the liquidity of the countries in the world, the global currency situation may be tight.

损人不利己weak dollar policy Nanjiu the United States - institutions Perspective - Global Exchange Network

Recently, the dollar ended decline, but the Fed has released negative news, the dollar rebounded trend of slowing down, most likely fell again. The international media have accused the United States: Xiangkao laissez-faire depreciation of the dollar to shift the domestic economic crisis. U.S. loan-to-military dimension and the economic crisis hit the burden are turning to countries in the world. This is also causing a global energy and food prices of the important reasons. Comprehensive both inside and outside factors, the dollar did not continue to depreciation of the reasons. From the outside, the national central banks and investment institutions and not the U.S. dollar depreciated significantly when they lose their confidence.尤其是各国央行没有减持美元债券。 The U.S. Treasury Department released data shows that overseas investors in the first quarter of the average monthly purchase 47.2 billion U.S. dollars U.S. bonds, slightly higher than the fourth quarter of last year level. One central banks and other official institutions bought a monthly average 36.1 billion U.S. dollars U.S. bonds, also higher than the level in the fourth quarter of last year. Particularly Japan, China and oil exporting countries, such as foreign exchange reserves big country, in the first quarter of the U.S. bond holders in monthly increments. At the same time, overseas investors in the Federal National Mortgage Association and the Federal Housing Loan Mortgage Corporation bonds issued by the U.S. agency also restored confidence. In December last year, they sold 3.3 billion U.S. dollars of the bonds, but the first quarter of this year, their monthly also repurchased 19.3 billion U.S. dollars of such bonds. From the U.S. perspective, the property market continue to adjust the economic situation has improved, the employment situation is much better than economists expected. In addition, the earlier depreciation of the dollar has made U.S. exports grew by 10 percent, which has become a vital force in promoting economic growth. Overall, the U.S. economy into recession immediately instead of the risk, but there have been improved. At this point in time the United States to stop the dollar rally, it is impossible to understand. In fact, the interest rate cut promoting depreciation of the dollar is not to rescue the U.S. economy, but to save Wall Street, is to safeguard the interests of the United States top the Group. People have noticed that detail, in several recent Fed cut interest rates before the decision, Fed Chairman Ben Bernanke with Bush and U.S. Secretary of the Treasury Paulson held talks, which confirmed the %26quot;United States Government to Bernanke issued an interest rate cut order %26quot;speculation. There are indications that the U.S. exchange rate policy has been a fundamental change. On the one hand, no significant downturn in the economic signs, the dollar radical criticism, commodity prices are still soaring at a再减interest that the U.S. government for short-term interest to give up defending the dollar, the major powers are the responsibility of loss, which would sacrifice the international community and the United States itself to the long-term Interests. On the other hand, to restore the loan-to-crisis on the economic impact, expect the Fed to cut interest rates to contain this Mengyao of economic decline. However, the interest rate cut %26quot;side effect%26quot; is exacerbated inflation, leading to depreciation of the dollar. Through the depreciation of the dollar %26quot;Laizhai%26quot; to enhance competitiveness, and fully shows the U.S. economy has fallen since Gan. In the global capital flows increased today, the dollar cut in interest rates affect the by no means limited to the United States. As an international currency, the depreciation of the dollar led to major dollar traded sharply rising prices of goods, so the world oil, iron ore and agricultural prices rising. In addition to raw materials, semi-finished and finished goods prices also rose sharply in the global outbreak of inflation. World OECD issued the %26quot;2008 Economic Outlook%26quot;, details of the United States through the depreciation of the U.S. dollar acquisition of interests. 2007 U.S. domestic demand grew by 1.9 percent, well below 2006 2.9%, while 2008 will further increase its domestic demand slowed to 1.4 percent. Thus, in 2007 and 2008 the United States will strive to reduce the trade deficit, increase exports in order to promote economic growth, while the dollar depreciation is the rapid expansion of the direct export momentum. 2007, U.S. merchandise exports for economic growth contributed 0.5 percentage points, in 2008 this figure will reach 0.6 percentage points. Therefore, the United States Government believes that as long as the depreciation of the dollar caused by inflation in the United States %26quot;affordable%26quot; to the extent, we can condone dollars irresponsible to continue to devalue. International public opinion also pointed out that global oil prices and higher food prices should blame the United States allowed the dollar depreciation policy, because food prices rose the most powerful countries, are dollars popular countries, depreciation of the dollar led to these countries the purchasing power of food imports Decline. The final analysis, the depreciation of the dollar is the U.S. launch of a foreign %26quot;currency war%26quot; to let other countries share the United States in Iraq and Afghanistan for the military battlefield, the loan-to-the losses caused by the crisis. Dollar strong, the United States from the international market to buy a lot of material. Now the dollar depreciation, substantial dollar and U.S. bonds country foreign exchange reserve losses, but the United States, it is a good thing: to reduce the external debt burden, the increase in the number of inbound tourism, the economic powerhouse of natural increase. Overall, the depreciation of the dollar is the U.S. government passed on to other countries as a means of economic crisis. Governments should be how to deal with the U.S. %26quot;weak dollar%26quot; policy is » On the international market transactions, the first consideration should be given more use of other currencies rather than the U.S. dollar clearing. In addition States should reduce U.S. dollars, increased holdings in other currencies (such as euro), at the same time, some financial and monetary reserves into gold or other material reserves. But the United States, pursuing its %26quot;weak dollar%26quot; policy is not so much to %26quot;revitalize the U.S. economy,%26quot; it would be better described as upset by the world financial and monetary crisis in order pass. But this would be Yinzhenzhike, instead of self-harm, or even harming themselves. For any health Kong-based enterprises, not all of its funds from the loan. If profitable, enterprises will not care about a small amount of interest cost; if not to do business, then no interest-free loans are attractive. For U.S. businesses, cuts in interest rates can reduce the burden, but a steady profit certainly more important than the interest rate cut. The United States a substantial number of necessities and consumer goods are no longer in national production, can only rely on imports, %26quot;weak dollar%26quot; policy will hurt the United States itself. If things continue this way, if the %26quot;weak dollar%26quot; policy is not changed, have not 20, the United States will lose the world top economic power status.

Tandi dollar rebounded against the yen - institutional perspective - Global Exchange Network

日北美早盘， 美元兑日圆反弹至 104 一线震荡整理。 On the 19th in North America early trading, the dollar rebounded against the yen to 104 shocks finishing line. 104.25/60 区间，重返该位上方汇价有重新转强可能，其后目标指向 105 一线及 105.50/70 强阻力；下档 30 日均线所处的 103.50 附近提供重要支撑，关键支撑位于 60 日均线及前期低位 102.55 附近，汇价跌破该位进一步下行风险将大幅增加。 Short-term disruption in the average dollar rebounded against pressure now find ourselves with the 104.25/60 range, to return to the top of the exchange rate may have re-strengthening, then 105 goals at the forefront and 105.50/70 strong resistance; downside on the 30th in which the MA Providing important support near 103.50, key support at the 60-day MA and the early low of around 102.55, the greenback fell below the bit further downside risk will increase substantially. 104 附近温和反弹，盘中受日本股市走高提升风险偏好，汇价高见 104.30 遇阻。 Asia City early trading, the dollar was near 104 yen since the moderate rebound in Japanese stocks higher after the upgrade risk preferences, the greenback opinions 104.30 Yuzu. 104 水平，顺势下探 30 日均线上方 103.60 企稳反弹。 Europe fell below 104 level in early trading, the 30-day MA homeopathy lowered to 103.60 stabilize rebound. 104 水平附近震荡整理，最新报 104.01 。 North America early return to the vicinity of the 104-level shocks finishing, as reported 104.01. Of shocks in the yen cross, closed unchanged at the current basic level, except against the Canadian dollar slightly lower outside. 5 月制造业景气判断指数为 -2 ，低于 4 月的 1 ，为去年 11 月以来连续第六个月下滑，显示日本制造业商业景气状况 5 年来首次转为悲观。 Japan announced during the Asia Reuters Tankan report, due to high raw material prices, slowdown in the U.S. economy, Japan May manufacturing diffusion index for-2, lower than April 1, since last November for the sixth consecutive month Decline in business sentiment showed that Japanese manufacturing conditions over the past five years the first time to pessimism. 4 月全国百货店销售年率下降 3.4% ，至 5815 亿日元 ，而 3 月仅下降 1.2% 。 Japan nationwide department store sales in April fell 3.4 percent annual rate, to 581.5 billion yen, while in March alone fell 1.2 percent. 09 年 3 月的本财年税前利润将下滑 5.8% ，为 7 年来首次。 Japanese companies are expected, the strong yen, the U.S. economy down and high energy prices combined effect of, as at March 09 of this fiscal year pretax profit will decline 5.8 percent for the first time in seven years. Former Japanese Vice Finance Minister Watanabe said Saturday the history of Botswana, the medium and long term, the dollar against major currencies may be a further decline. However, he said, the Japanese economy can withstand the impact of the appreciation of the yen, due to the appreciation of the yen helps to ease energy and food prices rose the pressure, but the short term the yen is unlikely to rise sharply. He also noted that Europe and Japan economic prospects remained generally strong, while also facing the threat of rising inflation, the central bank should not be easily cut. 5 月消费者信心指数自 62.6 跌至 59.5 ，低于预期的 62.0 ，并创出 1980 年 6 月以来最低水平。 The data released last Friday showed that U.S. housing markets stabilize, but the University of Michigan May consumer confidence index fell to 59.5 from 62.6, below expectations of 62.0 and June 1980 hit the lowest level since. At the same time sub-index also showed that U.S. inflationary pressures are accelerating the next upward trend. 127.82 美元 / 桶，金价重返 900 美元 / 盎司上方。 Affected by this, oil prices and sharply higher commodity prices, record high oil prices to 127.82 U.S. dollars / barrel, and gold to return to 900 U.S. dollars / oz at the top. Dollar under pressure eased substantially. Today, the Bank of Japan interest rate meeting held and released Tuesday afternoon, the interest rate and monthly economic report. GDP 强劲，但日本通胀压力也达到十多年来高位，同时油价屡创新高，将抑制私人消费及企业盈利；此外日本出口市场也有放缓迹象，经济下行风险加大。 Japan announced last week despite the strong first quarter GDP, but Japan inflation pressure has reached more than 10 years high, while oil prices hit record highs, will curb private consumption and corporate profits; Japan export market has slowed down signs of economic downside risk increases Large. 0.5% 利率不变，并再次强调经济面临下行风险。 The market expected the Bank of Japan will continue to maintain a 0.5 percent interest rates unchanged and reiterated that the economy faces downside risk. 30 日均线上方再次获支撑，反弹受阻于均线带压力。 Technical charts show the dollar against the yen lowered again to 30-day MA of the support, hampered in rebound average with pressure. MACD 双线横向缠绕后轻微下滑，绿柱略微扩大， RSI 指标跌至 45-50 偏弱区域，短线汇价呈偏弱走势。 Short-term exchange rate fell to below average, MACD on the horizontal winding two-lane after a slight decline, the Green-slightly expanded, RSI index fell to 45-50 weak regional, short-term exchange rate movements were weak. 104.25/60 区间，重返该位上方汇价有重新转强可能，其后目标指向 105 一线及 105.50/70 强阻力；下档 30 日均线所处的 103.50 附近提供重要支撑，关键支撑位于 60 日均线及前期低位 102.55 附近，汇价跌破该位进一步下行风险将大幅增加。 Short-term disruption in the average exchange rate rebounded with anti-pressure, in the 104.25/60 range, to return to the top of the exchange rate may have re-strengthening, then 105 goals at the forefront and 105.50/70 strong resistance; downside on the 30th where the average 103.50 Providing important support near key support at 60-day MA and the early low of around 102.55, the greenback fell below the bit further downside risk will increase substantially. 4 月谘商会领先指标。 Night due attention to the United States in April leading indicator of the Chamber of Commerce. 4 月 PPI ，周四 02 ： 00 美联储利率会议纪要，周五美国 4 月 NAR 成屋销售。 Focus attention this week: Tuesday U.S. April PPI, Thursday 02: 00 minutes of the Fed meeting, Friday the United States in April NAR existing home sales. ZEW 及 Ifo 经济景气指数，以判断欧洲经济及利率未来走向。 Also of concern Tuesday, Wednesday and the Ifo German ZEW economic sentiment index to determine whether the European economy and the future direction of interest rates.

Dollar down against the Swiss franc average of 20 days of temporary support - institutional perspective - Global Exchange Network

日欧洲早盘瑞郎受欧元走强带动反弹，但美元兑瑞郎测试 20 天均线 1.0428 附近获得支撑。 On the 19th in Europe by early francs stronger euro led rebound, but the U.S. dollar against the Swiss franc 1.0428 test average of 20 days was near support. 1.0400-1.0620 箱体内震荡，目前汇价接近区间下限，短线震荡或延续，但若有效跌破 1.0387 支撑，则下一目标将指向 30 天均线 1.0301 。 At the current exchange rate remained generally 1.0400-1.0620 Xiang Tinei shocks, the current exchange rate close range limit, or renewal of short-term shocks, but effective support below 1.0387, then the next target will be 1.0301 at the 30-day average. 日欧洲早盘，欧洲央行行长特里谢警告称，全球正在经历一场持续的且非常重大的市场调整，决策者应当将维护物价稳定作为首要任务。 On the 19th European trading, European Central Bank President Jean-Claude Trichet warned that the world is experiencing an ongoing and very significant market adjustment, policy makers should maintain price stability as a top priority. 1.56 关口， 美元兑瑞郎则回落低见 1.0411 。 European Central Bank has not changed a hard-line position once the euro against the dollar, breaking 1.56 juncture, the dollar was down against the Swiss franc as low as 1.0411. 3 月建筑业产出较上月下降 2.2 ％，年降 1.4 ％，远低于 2 月月升 1.6 ％，年升 4.4 ％的增幅，其中德国、西班牙和荷兰的建筑业产出出现下降，法国持平。 But the euro zone in March announced the construction industry output dropped 2.2 percent the previous month, was down 1.4 percent, far lower than in February, or 1.6 percent, up 4.4 per cent increase, with Germany, Spain and the Netherlands, the construction industry capacity To decline, France unchanged. 1.56 关口下方， 美元兑瑞郎则持稳反弹至 1.0450 附近，即时报于 1.0466 。 Data released after the euro against the U.S. dollar fell to below 1.56 juncture, the dollar was steady against the Swiss franc to 1.0450 rally around, that is, in the Times 1.0466. 19 日在其月度公告中表示，欧洲央行现在需要牢牢锚定长期通胀预期。 German central bank on the 19th in its monthly bulletin said that the European Central Bank now need to firmly anchor long-term inflation expectations. 19 日表示，德国经济在持续 12 年保持较快速度增长后，可能在未来几个月放缓增长步伐，并称全球经济疲软及欧元强势为经济面临的主要风险。 Although the German Ministry of Economic Affairs on the 19th that the German economy continued in the 12 maintain a relatively high speed of growth may slow in the next few months the pace of growth, saying the global economic weakness and euro strength for the main risks facing the economy. But the European Central Bank to control inflation currently remains top priority, while oil prices are still high again and again, and that the European Central Bank is still optimistic about the prospects for economic circumstances, the short-term rate cut did not seem to take the necessary measures. 日瑞士公布的 3 月经调整的实际零售销售年升 9.7 ％，未经调整的实际零售销售年降 2.5 ％。 Switzerland announced on the 16th of three menstrual adjusted actual retail sales rose 9.7 percent, without adjusting the actual drop in retail sales 2.5%. 4 月消费者信心指数有 1 月的 +14 降至 +2 。 According to the latest quarterly survey, April consumer confidence index in January of +14 to +2. 4 月新屋开工意外创 2 年来最大升幅，但随后公布的美国 5 月密歇根大学消费者信心指数初值降至 1980 年 6 月来最低水平，美联储年内反转升息的预期略有降温，且油价再创记录新高至 127.82 美元 ， 美元因此承压回落， 美元兑瑞郎跌破 1.05 关口，报收于 1.0471 。 Although the United States announced in April housing starts accidents in a two biggest increases, but then released by the United States in May University of Michigan preliminary consumer confidence index fell to June 1980 to the lowest level, the Fed rate hikes expected to reverse years Cool slightly and oil prices to a new record high of 127.82 U.S. dollars, the dollar under pressure drop, the dollar fell below 1.05 against the Swiss franc juncture, to close at 1.0471. 1.0400-1.0620 箱体内震荡， 5 和 10 天均线缠绕， MACD 出现卖出信号，但 RSI 仍处于 50 水平上方。 Technical observation, the dollar against the Swiss franc remained generally at 1.0400-1.0620 Xiang Tinei shocks, 5 and 10 day average winding, MACD signal a sell, but the RSI is still in the top 50 level. 9 日低点 1.0387 支撑，则下一目标将指向 30 天均线 1.0301 。 The current exchange rate close range limit, or renewal of short-term shocks, but below the effective support on the 9th low of 1.0387, then the next target will be 1.0301 at the 30-day average. 1.0620 阻力，则将上试日布林上轨 1.0704 。 However, if the effective break 1.0620 resistance, will be on the test on-orbit, Brin 1.0704. 4 月咨商会领先指标，前值上升 0.1 ％，预期持平。 Later due attention to the United States in April Conference Board leading indicators, the former value increased by 0.1%, expected the same.

Lack of market direction of oil prices callback support the dollar - institutional perspective - Global Exchange Network