With the Best Performance
  • Vote Up0Vote Down venynxvenynx
    Posts: 5,288Member
    Recently the global stock markets soars with irresistible force, the
    Chinese and US stock market in particular. And driven by new economy,
    the Nasdak Composite Index hit record high many times, and it closed at
    10,492.50 on July 8, another record close high.To get more news about WikiFX you can visit wikifx official website.



      This decreased the pressure on USDs liquidity from the market and
    weakened the safe haven function of USD, putting continuous pressure on
    the US dollar index. In the short term, the index is more likely to test
    the low level of 95.716 recorded in May. If it fails to break the
    level, the index may challenge the low level of 94.650 happened on March
    9.



    image

      Faced with a weakening US dollar index, non US dollar currencies
    bounced back in varying degrees. From a perspective in Macro trend, the
    Swiss Franc has the best year-to-date performance, up about 3.5% again
    the USD, ranking the first among all currencies. And safe haven Japanese
    yen ranks the third, up 1.34% this year, second only



    The Swiss Franc performed extremely well because of the relatively
    stable situation of COVID-19 and better economic data in Switzerland
    compared with that of other European countries. Therefore, forex traders
    preferred the Swiss Franc to USD as a safe haven. And market estimates
    that the Swiss Franc will keep maintaining an edge in the second half of
    this year. In the short run, USD/CHF appears to approach the low level
    of 0.9181 of March or the low level of 0.9071 recorded in 2015.



      It is estimated that cautiously optimism pervades the future Japanese
    yen market, another safe haven. Recent USD/JPY basically fluctuates at
    the range of 108.16-106.00, being approaching the level of 106.00. And
    it is likely to break the level and challenge again the major support
    level of 104.45.

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