Dollar down because of credit concerns

Dollar fell Monday due to the financial industry on the U.S. economy continued to concern the health status of Mengyin, limits the Federal Reserve raising interest rates before the end of this year's ability. Bloomberg News reported that Merrill Lynch analysts expect the fourth-largest U.S. investment bank Lehman Brothers reported a third quarter loss of material, and may again write down 2.5 billion U.S. dollars of assets related to housing loans. Lehman Brothers, Merrill Lynch expected the third quarter expected a loss of 1.59 U.S. dollars, and Lehman target price from 28 dollars down to 25 U.S. dollars. This has deepened investors in the U.S. financial industry concerns, a drag U.S. stocks and the dollar fell one of the factors. In addition, the U.S. Federal Reserve Bank of Minneapolis President Stern published in the Financial Times in an interview that the next 2-3 quarter economic growth may be disappointing. His remarks show a deterioration in credit crisis FED that the inflation increase even more sure that inflation is moderate tone, the dollar negative sentiment increased. Investors are waiting for data later this week a series of the latest market transactions that provide more guidance, including the United States Thursday of the second quarter gross domestic product (GDP), Friday's U.S. payrolls report. On the map, the number of MA muster, short-term view that the United States still under pressure. Today is expected to support at 72.40, with resistance at 72.80.

The euro against the dollar yesterday ended up. Germany announced yesterday the Gfk Consumer Confidence Index fell movements did not affect the euro. DailyFX.com senior currency strategist Boris Schlossberg said, although in the past few days, the euro area is more negative data, the euro accident holding positions, mainly because the market is very worried about the U.S. financial system of systemic risks. But on the other hand, the weak data so that the hasty follow-up to euro bulls. On the map, the exchange rate of re-running the 100-day moving average, and mitigate the decline in the early, more short-term oscillation interval, the initial resistance near the 20-day MA. Today is expected to support at 1.5700, with resistance at 1.5790.

British pound against the dollar yesterday rose oscillation. Because after the British domestic real estate advisory body Hometrack published data showed that British house prices in July for the first 10 months decreased, the British pound fell, but all of the U.S. dollar weakened, making sterling back before the decline. Today morning, sterling against the dollar yesterday closed in the vicinity of consolidation, with technical indicators, continue today in 20-day MA near the possibility of oscillation, is expected to support at 1.9870, with resistance at 1.9980.

Stocks fell by the impact of the dollar against the yen yesterday dropped from a high level, slightly down. Today, there are likely to continue to decline near the 200-day MA, is expected to support at 106.70, with resistance at 107.60.

Other currencies price forecast:

The Australian dollar :0.9530-0.9620; :1.0280-dollar CHF 1.0350; USDCAD :1.0170-1.0230

Today:

16:30 June consumer credit

16:30 Germany in July Consumer Price Index initial value

21:00 U.S. May S & P / Case-shiller price changes

22:00 U.S. economy of the Chamber of Commerce June consumer confidence index