A gradual but not full currency unpegged.

Since July 2008, China had essentially tethered the yuan to the U.S. dollar to help protect the world's third-largest economy from the global financial crisis. The move Saturday by the People's Bank of China, the nation's central bank, boosted investor appetite for riskier assets on the notion a freer Chinese currency might stimulate global economic activity.
But the the central bank warned that there will be no such thing as one-off revaluation or major yuan appreciation.

The start of Dow June index futures/options contract.
Asian index futures expires 30.06.10

9:30am:--Bullish 100.0 points opening gap-up.A decision by the People's Bank of China to allow the market to have more of an influence over its currency triggered a strong rally among Asian markets as well.

10:30am:--Early session high followed by bearish dojis.

11:30am:--Opening gap being filled half body,a hangman is hoovering at this point.

12:30pm--Mid -pivot breached,futher bears.

1:30pm:--A failed technical rebound,hangman again.

2:30pm:--Bearish harami.Commodities have come under a wave of stiff selling pressure.

3:30pm:--Heading towards the low of the day,a technical rebound.

4:00pm:--Last minute bullish short-cover but still very weak.

This bearish inverted hammer is hoovering at the bull pivot support.Chances of a pullback to the MAV support is also imminent.

China's easing of currency's peg to dollar as announced over the weekend is the main catalyst news.

The aim is mainly at countering criticism of Beijing's currency policies before this weekend's summit of the Group of 20 leading economies. Beijing's trading partners have been frustrated by their perennial trade imbalances with China.