Market Sentiment Entangled &Nbsp; Australian Dollar Weakened Due To China'S Economic Slowdown
The euro / dollar began to shake sharply after a small increase on Monday, and basically returned to Friday's closing price on Friday. The GBP / USD trend is also basically similar. The exchange rate is now at the upper side of the closing market price. The nu / USD in the commodity currencies has dropped sharply during the 3 days of this week, but it has rebounded strongly, and the European session has returned to the closing market price.
Yen
This week is also a major shock to most major currencies.
Looking back at the trend and news in the past week, apart from the fact that German Chancellor Merkel and Bernanke de spoke more clearly about the effect of the exchange rate on Monday, no matter what economic data or comments or messages, it is hard to say what the real impact on the exchange rate is, and the whole market is a bit confused or even entangled.
On the one hand, Greece's debt problem has been temporarily alleviated, but
European debt
The problem is far from reaching a solution and still remains the consensus of the vast majority of investors. The European economy has yet to get rid of the signs of a mild recession. Investors are very hesitant about the further trend of the euro. On the other hand, the US Federal Reserve still insists on QE3 as a policy option in the case of the US economy relative to the obvious recovery of Europe and other economies. The Fed will still not implement QE3, which makes investors very hesitant. This also makes the market very sensitive to any optimistic or pessimistic remarks of Bernanke.
The 2 factors are combined.
Investor
Very entangled, the improvement of European debt and the moderate expansion of the US economy are all good for market sentiment. The non US currencies, especially the risk currencies, should be supported. But the European economy is still not getting rid of the moderate recession. In the current US economy, if the European debt problem worsens, the choice will be much simpler. Investors will no doubt be optimistic about choosing the US dollar. Unfortunately, the European debt problem has been temporarily alleviated. Meanwhile, the Federal Reserve is still obsessed with QE3. The entanglement of these factors has made the Australian dollar, the most influential Chinese economy, become the biggest loser this week. Even the New Zealand dollar, which had been struggling with the Australian dollar, finally recovered on Friday.
Next week
market
It will usher in a week of risk events again. There are central bank resolutions and many important economic data, especially American non-agricultural data. It is difficult to predict how the market wants to go at present, and perhaps the best choice is to remain unchanged.
Euro
The euro / dollar rose slightly after the Asian session, and the market was very mild near the weekend.
On the daily chart, the euro / dollar is still facing the downward trend line of the daily chart, and now tends to continue to wait and see.
Yen
The US dollar / yen went down 82 times in the Asian session, the European session and the US in the early morning 3 times, but failed to break through effectively. The US intraday exchange rate rebounded strongly and is now close to 83 and the 10 day moving average is also located near that level.
The US dollar / yen shows signs of a fluctuating range between 82.00-83.00 on the daily chart.
Pound
Compared with most other major currencies, the GBP / USD trend seems to be showing signs of breaking up. The GBP / USD has now broken through slightly by 1.6000. If the exchange rate continues to be stable, the sterling / USD is expected to go further, and the aggressive investors can try to buy it.
Australian dollar / New Zealand dollar / Canadian dollar
This week, the Australian dollar and the NZD dollar were relatively weak in the commodity currencies. However, the NYSE / USD rebounded strongly, and the Canadian dollar / dollar and NZD / USD were basically flat. Only the Australian dollar / dollar finally fell. The slowdown in China's economy is the main reason for the pressure on the Australian dollar, and it is expected that this factor will not change much in the near future.
Technically, the Australian dollar / dollar chart is still facing downward pressure.
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