Professional system trader Art Collins shares his daily biases in the index, bonds and currency futures markets for July 17.

The RSI has been negatively diverging in the EUR/JPY currency pair since last month.

Derek Frey provides weekly market commentary on currencies for the week of July 16.

New records will either be made or lost this week because not only do we have a very busy economic calendar, but Federal Reserve Chairman Ben Bernanke will also be delivering his semi-annual testimony on the economy and monetary policy. The weakness of the US dollar and continual rise in oil prices will keep the Federal Reserve hawkish as they bank their hopes for a second half recovery on the movements of the US currency.

The status of inflation in the UK has been of urgent concern to the Bank of England ever since CPI surged to 3.1 percent in March.

The Chinese yuan advanced against the euro and US dollar, while remaining weaker against the yen and British pound in the overnight trade.

The US Dollar consolidated near multi-decade lows against most major currency pairs, but a sharp British Pound rally led it to fresh 26-year peaks against its cross-Atlantic counterpart.

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

The near-term strucutre allows for a new high above 2.0365, as the decline from 2.0365 is in a corrective 3 waves.

The NZD/USD hit a post-float high breaking above the 7900 barrier after hotter inflation readings that printed at 1.0% vs. 0.8% on a quarter over quarter basis.