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| | Demo|Live|Free Practice  Daily Newsletter: 20/07/2009
By Peter Rosenstreich - ACM Advanced Currency Markets, Geneva, Switzerland | | | | Bernanke's Semi-Annual Monetary Policy Testimony & Corporate Earnings will be Key this Week | News and Events: Risk appetite continues to gain traction at the start of this relatively quiet week.
Equity markets have continued were they left off on Friday, as news that CIT might avoid bankruptcy, or a government bailout, by accepting $3bn loans from bondholders.
The JPY has come under significant selling pressure across the board as, rising appetite for risk, political uncertainly and comments from the new Vice-Finance minister for Japanese international affairs Tamaki verbal intervention weighed on the JPY.
This week, market participants will be intently focused on Fed Chairman Bernanke semi-annual monetary policy report testimony to Congress (Tuesday morning EST) and corporate earnings.  Read Today's Key Issues and The Risk Today
| Resistance and Support: | EURUSD | GBPUSD | USDJPY | USDCHF | | 1.4350 | 1.6620 | 96.80 | 1.0930 | | 1.4280 | 1.6590 | 96.25 | 1.0875 | | 1.4235 | 1.6540 | 95.50 | 1.0810 | | 1.4217 | 1.6516 | 94.51 | 1.0680 | | 1.4050 | 1.6317 | 93.45 | 1.0625 | | 1.3185 | 1.6260 | 93.20 | 1.0590 | | 1.3920 | 1.6145 | 92.60 | 1.0550 | | S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot | | Quick access to our 5 previous newsletters: |
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