Desktop, tablet & mobile - Forex trading platform

Australian Financial Services (AFS) Licence 246566

easyMarkets Daily Outlook

Daily Outlook
Currency Trading Summary 30-Sep-2016

Written by Anthony Darvall

 

U.S stocks retreated among Deutsche Bank troubles generating a shift to risk off trading. Fear that woes would spread throughout the financial sector saw the DAX drop 300 pips and the S&P slip 0.9% evaporating the gains made by from the OPEC agreement. Risk aversion saw JPY gain against all pairs. Should we see further effects on stocks for Deutsche and the financial system, key currencies to watch will be NZD/JPY currently at 73.250 with target at 72.350 should the downtrend continue.

 

AUD/USD has also been affected by the risk off mood swing overnight worsened by a 2.6% drop in the Dalian iron ore price complimenting a 1% fall in all ore’s. The looming Australian long weekend also added complications for traders in Sydney. Tuesday’s week low at 0.7612 may well be challenged if bearish sentiment continues and selling heads towards the 50 day moving average at 0.7598.

 

XAU priced currently at 1323.30 did not experience the expected reaction following the stock markets selling continuing its small downtrend towards the recognised support of 1310.00. If the environment continues to worsen this evening gold may well rally to target 1336 before its forced to break trend.

 

GBP Current account data tonight will be another signal before PMI on Tuesday as to whether the UK economy continues to perform following Brexit and when, if at all, a negative effect will take hold. The main pairs to watch are GBP/AUD and GBP/NZD.

Full Outlook

Forex Trading Platform Desktop, Tablet & Mobile

Through its real-time Forex trading platform, easyMarkets Australia offers complete suite of tool for Web, Desktop, Mobile and MT4 trading with 24 hours a day support and Dealing room service. In addition, easyMarkets provides One on One Forex training, The Forex School – Video on Demand forex trading lessons, and Forex seminars.

Why trade with easyMarkets?

  • Guaranteed Stop-Loss Rate
  • Competitive spreads
  • No commissions
  • Online Forex trading with Live, real time quotes.
  • No software downloads
  • Start trading within minutes.
  • Freeze and Trade©
platforms@2x
Daily Archive

DAILY ARCHIVE

FOREX MARKET

A summary of the previous day’s foreign exchange market movements

READ MORE >
Weekly Archive

WEEKLY ARCHIVE

CURRENCY MARKET

An in-depth market summary of the previous week’s foreign exchange trading movements

READ MORE >
Currencies Archive

CURRENCIES ARCHIVE

Weekly summary of currencies trading movements

READ MORE >

Our Awards

Try easyMarkets today

Get a free online demonstration of our leading online Forex trading platform.

Thank you for contacting us.

We have received your enquiry.

Risk Warning: easyMarkets Pty Ltd (AFSL 246566, ABN 73 107 184510) makes no recommendations as to the merits of any financial product referred to in this advertisement, emails or its related websites and the information contained does not take into account your personal objectives, financial situation and needs. Therefore you should consider whether these products are appropriate in view of your objectives, financial situation and needs as well as considering the risks associated in dealing with those products. easyMarkets Pty Ltd recommends that you read the PDS, the Terms & Conditions and the FSG before making any decision concerning easyMarkets Pty Ltd financial products. Forex and CFD trading involves substantial risk of loss. Do not invest money you cannot afford to lose.

Follow us: