Forex Account – Early in the Asia forex market on Monday (August 16), affected by the dim Asia-Pacific stock market, USD and JPY continued to get their advantage as haven currencies in the forex market, but the condition for ERU and AUD was vice versa, they both suffered great pressure and slumped in the forex market.
The Nikkei index slumped by 1.2 percent early in the forex market and the Australian stock index also went down by 1 percent. The uncertainty of the Chinese economy as well as the anxieties of the forex brokers on the double dip recession of the US economy in the forex market both pulled down the high benefit currencies in the forex market.
The forex rate of EUR/USD was opened slightly higher and even reached around 1.2770 in the beginning of the forex market, but after Tokyo decided its interest rate, the forex price of EUR/USD slumped to the hour supporting point on last Friday (August 13) at around 1.2750, and so far the lowest point this forex price had reached was at 1.2733, which was the new lowest point for three weeks in the forex market.
The forex rate of AUD/USD also fell from the point of 0.8940, and it fist fell to the range of 0.8900-10, reversed the mild surging amount at the beginning of the forex market. And later the forex rate of AUD/USD slumped sharply to below the supporting point at 0.8900 and went down to the level of 0.8870, and the expected supporting point would be at around 0.8850 in the forex market.
The forex rate of EUR/USD was at 1.2737/39, and the forex rate of AUD/USD was at 0.8875/78 at 08:40 Beijing time.
Edited by laura.