Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 20.

Ben Bernanke, speaking to the U.S. Congress, dumbed down his remarks, in a message dumbbells wanted to hear.

As a big proponent of transparency, Federal Reserve Chairman Ben Bernanke had no surprises for the market when he delivered his testimony on the economy and monetary policy to the Senate today. The question and answer session continued to center on the problems in the sub-prime sector and Bernanke responded by reiterating the Fed’s growing concern that the problems in housing could get worse before they get better.

Economic expansion in the UK during the second quarter is anticipated to maintain its robust pace of 0.7 percent from the quarter prior and 2.9 percent from the previous year.

Economic data was bullish for the Chinese economy as it becomes evidently clear that policy makers will have to do far more in curbing the possibility of an overheating economy.

The US Dollar remained at multi-decade lows against major counterparts, as a relatively quiet calendar forced little volatility across greenback pairs.

Currency technical analyst Jamie Saettele analyzes the British pound against the Japanese yen, Swiss franc, and Australian dollar.

Jamie Saettele has an initial bearish target is 1.3700.

Yesterday’s less than inspiring testimony of Fed Chairman Ben Bernanke continued to weigh heavily on the greenback in overnight trade, with euro benefiting the most from the anti-dollar flow.

Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 19.