Leaked Bank Stress Tests fuel Rally CURRENCY TRADING SUMMARY – 7th May (00:30GMT) ·U.S. Dollar Trading (USD) struggled as US employment numbers beat expectations and leaked stress test results helped confidence. ADP Employment Report for April came in at -491K vs. -650K forecast. US stocks rallied on improved confidence and… 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 06/05/2009
May 6, 2009Bernanke Optimistic about Future CURRENCY TRADING SUMMARY – 6th May (00:30GMT) ·U.S. Dollar Trading (USD) was able to finish the US session on the front foot as large rallies in the Majors were wound back ahead of key economic data this week. April Non ISM Manufacturing jumped to 43.7 vs…. read more
Australian FOREX Daily Outlook 05/04/2009
May 5, 2009US stocks close at Year Highs CURRENCY TRADING SUMMARY – 5th May (00:30GMT) ·U.S. Dollar Trading (USD) Dollar strength was short lived as Global Stock markets charged ahead. Most Currencies made solid gains against the USD with commodities also making substantial gains. Pending Home Sales rose 3.2% vs. 0% forecast…. read more
Australian FOREX Daily Outlook 04/05/2009
May 4, 2009Positive end to the Week CURRENCY TRADING SUMMARY – 4th May (00:30GMT) ·U.S. Dollar Trading (USD) was once again at the mercy of the equity markets which managed to make small gains into the weekend and pressured the Dollar lower. ISM Manufacturing managed to jump to 40.1 in April vs…. read more
Australian FOREX Daily Outlook 01/05/2009
May 1, 2009Volatile trading near Year highs CURRENCY TRADING SUMMARY – 1st May (00:30GMT) ·U.S. Dollar Trading (USD) found itself under extreme pressure at the start of the European session after the Nikkei finished 4% higher. Profit taking from these levels and the Chrysler Bankruptcy help the Dollar to recover although the… read more
Australian FOREX Daily Outlook 30/04/2009
April 30, 2009US GDP Drops -6.1% in Q1 CURRENCY TRADING SUMMARY – 30th April (00:30GMT) ·U.S. Dollar Trading (USD) weakened substantially on the back of solid equity markets. Q1 GDP was worse than expected at -6.1% vs. -4.9% forecast. The FOMC also met and held rates at the 0-0.25% target range. Helping… read more
Australian FOREX Daily Outlook 29/04/2009
April 29, 2009US consumers lead rebound CURRENCY TRADING SUMMARY – 29th April (00:30GMT) ·U.S. Dollar Trading (USD) weakened in New York but only after testing fresh strength in Asia on swine flu fears. Fears the stress tests will require Citibank and Bank of America to raise more capital sent bank shares lower…. read more
Australian FOREX Daily Outlook 27/04/2009
April 27, 2009USD weakens on China news CURRENCY TRADING SUMMARY – 27th April (00:30GMT) ·U.S. Dollar Trading (USD) the direction was set in the Asian session with news from China about the diversification of FX reserves. Figures released show that gold holdings had increased to over 1000 tons. Also hurting dollar sentiment… read more
Australian FOREX Daily Outlook 24/04/2009
April 24, 2009US stocks Continue to rise CURRENCY TRADING SUMMARY – 24th April (00:30GMT) ·U.S. Dollar Trading (USD) weakened considerably against the EURO and GBP as US stocks continue to rebound. Weekly Jobless Claims jumped to 540K vs. 613K previously. Also released March Home Sales at 4.57Mln vs. 4.7Mln forecast. Helping Global… read more
Australian FOREX Daily Outlook 23/04/2009
April 23, 2009Global Stock Rally Stalling CURRENCY TRADING SUMMARY – 23rd April (00:30GMT) ·U.S. Dollar Trading (USD) had a mixed day with heavy data releases in the UK the main highlight. Weak stocks kept the USD/JPY under pressure and the GBP was very weak after the UK budget revised GDP lower and… read more
