Ukrainian Globalist

Who needs a weak yuan? What will the exchange rate between the dollar? Technology companies deftly move production around the world only to find the most favorable conditions for himself. Apparently, now they have to make the next leap forward in this direction. Bank of China on Saturday announced that he intends to continue the reform of exchange rate policy and increase the flexibility of RMB exchange rate. In a statement posted on the bank’s Web site states that the established boundaries of fluctuations yuan (0,5% per day) remain unchanged. At the same time the Central Bank intends “to focus on the reflection of market demand, taking into account a basket of currencies”.

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Exchange rate U.S. dollar is under pressure from a variety of factors today. Markets have realized that too actively responded to reports of a possible strengthening of the yuan, and now, despite the fact that each new day the Chinese Central Bank announced on the next rate increase within a specified range of players, it does not touch them.

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Oil prices remained stable today. The factor that prevents the oil price rise, is the threat of falling demand in the euro area. Quotes of the oil market on Monday 21 June on the basis of trades were closed with an increase in value against the release of positive news about the yuan from the central bank of China.

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Dow Jones Industrial Average started trading with strong growth, but at the end of the trading session began to fall rapidly. The level of support for the Dow Jones dropped significantly. Customers started to close short positions and they themselves have broken the positive trend. Bulls took the opportunity and started Dow Jones Industrial Average in the red zone. Trading in the U.S. on Monday June 21 ended lower indices. The initial euphoria associated with the decision of China to weaken the control over the yuan, had vanished. Investors have come to the conclusion that the change in the course of the Chinese currency would take time.

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Dow can’t go down, – as the bulls say… Alcoa makes the Dow Jones Industrial Average to rise throughout the day. The stock market situation today is mostly driven by the move of the Central Bank of China. As reported, Chinese monetary authorities have allowed some revaluation of yuan and that caused some euphoria among the traders. Later, when the facts about yuan new state policy become clarified the market euphoria was evaporated. By fact, the free-float yuan remains an distant American dream, furthermore – the announced move can devalue yuan in the long term.

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Oil prices are rising fast enough, that was a surprise to the bears today. Brent oil price at today’s auction could not reach 14 cents to a mark 80 dollars / barrel. Thus, the maximum price the deal on Brent futures today was 79.86 dollars per barrel. – The highest quotation from 14 May this year Meanwhile, the growth of quotations Light Sweet yet confined mark of $ 78.87 per barrel. – Also a maximum of five weeks.

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Dow Jones Industrial Average reached the level of 10,573.91 points. The overall growth of Dow Jones Industrial +123.27 points (1.18%) now. Thus, a positive trend for the Dow index came from the UK and China. The level of support for the bulls on the U.S. stock market remains a record high. Even in European trading data for the UK slightly increased the activity to the risk, but the positive mood was not supported, and later traded currencies, with some decrease.

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China’s claim of first revaluation of the yuan becomes a signal for growth in the euro today. In addition, the weak yuan great pleasure bulls on the blue chip Dow Jones Industrial Average. Dow index could rise to record levels today. Buyers expect a record trading volume on the NYSE today. Dow Jones Industrial Average may be the growth leader in the stock market. Thus, the euro-dollar opened today with gepom up after Saturday China announced that it will allow its currency to become more “flexible” and signaled the possibility of ending two years of pegging the Yuan to the dollar.

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A year after the fiscal policy of the United States was named by the Chinese authorities “irresponsible”, the PRC leaders are showing greater confidence in the methods of doing business in the U.S. economy. China increased the amount of U.S. Treasury bonds bought by 2,6% to $ 900.2 billion in March and April, after the reduction of stockpiles of these securities at 6.5% in the period from November to February, which was the longest monthly decline over the past ten years.

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Pound / dollar is testing resistance at 1.4875/85 area, with corrective rollback clearly lacking enthusiasm. So, obviously the market is set to further increase pound. Some technical traders said that the next resistance will be the region of 1.4920. Support is at 1.4860. The Canadian dollar lost some weight at the auction on Friday because of lower oil prices and signs that the estimates on the state of the oil industry and oil consumers may be overly optimistic.

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