USD remains strong against all foreign exchange partners, except the Yen (February 1, 2010)

Currently Asian stocks are falling because of China's manufacturing report was not special when released. Greek bond risk rises to worry because it will need a bailout to pay its debts. The MSCI Asia Pacific Index slumped 0.7 percent to 115.98 at 11:19 in Tokyo. Shanghai Composite Index fell 1.5 percent and Hong Kong's Hang Seng Index sank 1.2 percent. Baoshan Iron & Steel Co, China's largest steel maker, fell 2.4 percent after the central bank Deputy Governor of China's Zhu Min said the government plans to rein in excess industrial capacity is a sure thing. Morgan Stanley also recommends selling shares of Chinese property developers because of the tightening of monetary policy. Dollar traded sharply higher against the euro since Greek fiscal woes will spread. "The market can continue to move lower on concerns about further tightening," said Manpreet Gill, forex experts Barclays Wealth in Singapore, which has $ 223 billion in client assets. "Investors have started to bite, after declining recently, because of the tightening in China. The MSCI Asia Pacific Index fell 3 percent last month as China and India both raised reserve requirements for banks to curb credit growth. Jiangxi Copper Co. and Aluminum Corp. of China Ltd. fell 2.7 percent at least. SAIC Motor Corp, the largest carmaker in China, slipped 2.6 percent. China Vanke Co., the famous property developer in China, fell 1.9 percent. Poly Real Estate Group Co., down 3%. "The market is very worried about the prospects for economic recovery," said Wu Kan, a fund manager of the Insurance Co., which manages about $ 285 million fund clients. Toshiba Corp., the largest memory chip maker Japan, fell 5.6 percent after the company cut the estimated annual sales at the January 29 and 5.9 per cent, related to a global recession. Honda Motor Co. slumped 3.5 percent to ¥ 2969 in Tokyo. In South Korea, Hynix Semiconductor Inc. fell 3.7 percent. Copper in London fell 2.2 percent to $ 6600 per metric ton. Currently the Euro was trading $ 1.3865 and 124.93 yen. "The anxiety of Greece remain and there is the possibility of Portugal and Spain including the candidate list of other victims" said Mike Jones, a currency strategy at Bank of New Zealand Ltd. in Wellington. "As long as these concerns continue, we tend to look at the ongoing 'safe haven' support for the dollar and the yen."
Preview fundamental news today:
16:30 pm *UK Manufacturing PMI value is predicted to continue for 54.1.
22:00 pm *Value of the U.S. ISM Manufacturing PMI is predicted to rise from 54.9 to 55.5
Belajarforex.com predicted value of USD remains strong against all the partners except the Yen currency today.
Predicted price movements based on technical observations at 11:09 pm: *
EURUSD: 1.3750 - 1.3930 (trend down)
GBPUSD: 1.5850 - 1.5995 (trend down)
AUDUSD: 0.8750 - 0.8865 (trend down)
NZDUSD: 0.6950 - 0.7055 (trend down)
USDCAD: 1.0660 - 1.0755 (trend up)
USDCHF: 1.0550 - 1.0650 (trend up)
USDJPY: 89.50 - 90.50 (trend down)
NZDJPY: 62.50 - 63.55 (trend down)
AUDJPY: 78.50 - 79.95 (trend down)
EURJPY: 124.50 - 125.65 (trend down)
GBPJPY: 142.50 - 144.50 (trend down)
EURGBP: 0.8655 - 0.8735 (trend down)


* TIME GMT+7 : Indonesia (WIB) 


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