USD crunched after FOMC Minutes CURRENCY TRADING SUMMARY – 21st May (00:30GMT) U.S. Dollar Trading (USD) was severely weakened after the FOMC not only downgraded the GDP forecast but some members raised the possibility of further expanding the $1.7 Trillion program. Stocks finished negative although did receive support from Geithner’s… read more
Daily
The following is a summary of the previous day’s foreign exchange market movements in the major currencies and the commodities markets. It is meant as an informative guide to the reasons underlying currency and commodity movements seen in the previous day’s foreign exchange trading. Together with a market snapshot at close of the New York session, indicators/events released during the session are outlined compared with their expected level of influence before release. This fundamental analysis summary also highlights upcoming data/events which may influence currency movements upon their release.
You will also find a technical analysis snapshot at time of release, highlighting support and resistances of each of the major currencies and gold. Coupled together with the reasons behind these important levels, traders can expect some support or resistance when these levels are reached.
Australian FOREX Daily Outlook 20/05/2009
May 20, 2009USD hits year lows against Risky Currencies CURRENCY TRADING SUMMARY – 20th May (00:30GMT) U.S. Dollar Trading (USD) came under pressure at the start of the European session with GBP breaking above resistance at 1.5350 to fresh year highs and taking AUD also to new highs above 0.7700. The optimism… read more
Australian FOREX Daily Outlook 19/05/2009
May 19, 2009India leads Global Rebound CURRENCY TRADING SUMMARY – 19th May (00:30GMT) U.S. Dollar Trading (USD) experienced another day of rapid change in market mood to finish significantly weaker than the start of Asia. The change was led by an incredible post election rally in India of over 17% before being… read more
Australian FOREX Daily Outlook 18/05/2009
May 18, 2009Market weakness starting to reemerge CURRENCY TRADING SUMMARY – 18th May (00:30GMT) U.S. Dollar Trading (USD) received support from the changing mood in the markets with last week being the first in 2 months to show significant Equity downside. Currencies took their cue and dropped against the safe haven USD… read more
Australian FOREX Daily Outlook 15/05/2009
May 15, 2009Stock turn upwards again CURRENCY TRADING SUMMARY – 15th May (00:30GMT) ·U.S. Dollar Trading (USD) returned to weakening as the heavy gains the day before inspired fresh selling. US data was weak but stock managed to also finish marginally higher. Weekly jobless claims at 637k vs. 610k Forecast. Crude Oil… read more
Australian FOREX Daily Outlook 14/05/2009
May 14, 2009Stocks Drop as Mood darkens CURRENCY TRADING SUMMARY – 14th May (00:30GMT) ·U.S. Dollar Trading (USD) enjoyed a major reversal of direction with sentiment turning overnight. Weak US Retail Sales of -0.4% in April sent US stocks skidding over 2% down. Also dampening sentiment was the commentary from BOE’s King… read more
Australian FOREX Daily Outlook 13/05/2009
May 13, 2009USD resumes Weakening CURRENCY TRADING SUMMARY – 13th May (00:30GMT) ·U.S. Dollar Trading (USD) felt more pressure as traders tested the dollars downside once again. A small rise in US stocks and better than expected US trade data prompted more risk taking. March Trade Balance at -27.5Bn vs. -29Bn forecast…. read more
Australian FOREX Daily Outlook 12/05/2009
May 12, 2009USD finds some friends at lows CURRENCY TRADING SUMMARY – 12th May (00:30GMT) ·U.S. Dollar Trading (USD) Monday benefited the USD with profit taking in equity markets helping to encourage paring back of short USD positions. Comments from George Soros’ that the USD is already weak and shouldn’t weaken too… read more
Australian FOREX Daily Outlook 11/05/2009
May 11, 2009USD crumbles as Non Farm Sparks Euro rally CURRENCY TRADING SUMMARY – 11th May (00:30GMT) ·U.S. Dollar Trading (USD) finished the week at multi-month lows against the Euro as better than expected US Job Data allowed risk appetite to jump another notch higher. April Non-Farm Payrolls were down -539K vs…. read more
Australian FOREX Daily Outlook 08/05/2009
May 8, 2009Europe Cuts Interest Rates CURRENCY TRADING SUMMARY – 8th May (00:30GMT) ·U.S. Dollar Trading (USD) came under pressure against riskier currencies as investors bought the Euro after milder than expected Quantitative easing measures from the ECB Thursday. Weekly Jobless Claims beat forecasts for the second week at 601K vs. 635K… read more
