Stock market drives non-US currency rally

Tian Li Hengfeng Dingyong Asia early Monday, the main Asian stock market low open and in the low consolidation. With the early start of the major European markets, the stock market began to pick up, investors ' appetite for risk increased, the market's willingness to take more risks, and the steady rebound in stock markets led to a high risk of riskier currencies, with the dollar ending consolidation falling, the euro, the pound, the Swiss franc,　　Currencies such as the new Yuan, Canadian dollar and Australian dollar are rally, and the price of oil and gold is followed by rising, with signs of runaway money from safe havens, which are bearing down on the yen and the dollar. The steady flow of positive data indicates a slowdown in the world economy, easing the liquidity crisis, which has led to an oversupply of the dollar before QE, making it even more difficult to determine the outlook, and the strong dollar is increasingly faltering. Another disadvantage to the US is that the recent dollar index futures show that the number of speculative drop-downs has increased rapidly, that the number of bills that have been raised has been reduced more sharply, that net positions have been turned into slips, and that a more empty reversal suggests the dollar's future tends to fall further.　　The dollar index chart shows that the resistance line near 83.70 of its top will be the new sounding point of its strength, and if that position is difficult to stop, the downward trend of the US finger is still hard to change. The weak expectations of the United States and other non-US currencies are likely to form the basis for the next step in most non-US currencies. Japan's cabinet 18th reported that the consumer confidence index, which reflects consumers ' expectations for the next 6 months ' economic outlook, has risen for the fourth consecutive month. April rose 3.5 points to 32.4.　　The rebound in consumer confidence has offset some of the market concerns caused by the decline in the manufacturing index, reinforcing the position of the yen as a safe haven. The euro zone and the European Union's gross domestic product fell by 2.5% in the first quarter of this year, exceeding the 1.6% level in the US, the biggest recession since Eurostat, and speculation that the ECB could step up its quantitative easing to deal with the crisis, Eurostat data showed. The euro is under pressure against the dollar, and the electronic offer shows that the euro is more conservative against the dollar and sterling against the dollar, and its willingness to prop up 1.3430 under test has been strong.　　This week the British Central Bank released the minutes of the May 6-7th Monetary policy meeting and the Federal Reserve's monetary policy meeting in April, 28 to 29th, which may guide the euro's next trend. Trader Notes Trader Notes