Majors pull back from USD in anticipation of central bank announcements this week. CURRENCY TRADING SUMMARY – 08 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) strengthened against the major currencies overnight, joining the equity markets in shaking off last week’s soft U.S jobs data as news that America’s largest savings… 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 07/04/2008
April 7, 2008Non-Farm Payrolls Pushes Dollar Down, Increasing Likelihood of Rate Cut CURRENCY TRADING SUMMARY – 07 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was weaker on Friday as a result of a worse than expected Non-Farm Payrolls data release indicating employment fell by 80,000 in March, some 30,000 less than what… read more
Australian FOREX Daily Outlook 04/04/2008
April 4, 2008ISM Services boosts dollar leading into Non Farm Payrolls on Friday. CURRENCY TRADING SUMMARY – 04 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) overnight remained stable amongst all other major currencies in anticipation of Non Farm Payrolls, which is to be released on Friday. In data news, the ISM Non-Manufacturing… read more
Australian FOREX Daily Outlook 03/04/2008
April 3, 2008Bernanke a step closer to conceding recession. Focus shifts to Payrolls data. CURRENCY TRADING SUMMARY – 03 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) paired much of it recent gains as Fed Chairman Bernanke noted further declines in the world’s largest economy would continue to contract in the first half… read more
Australian FOREX Daily Outlook 02/04/2008
April 2, 2008Rebounding stocks and falling commodities. CURRENCY TRADING SUMMARY – 02 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) the dollar rallied across the board on positive ISM Manufacturing figures were released above expectations, coming in at 48.6 for the month of March (Forecast: 47.5), yet below the key 50 contraction target…. read more
Australian FOREX Daily Outlook 01/04/2008
April 1, 2008ECB concerned with inflation, XAU and Oil tumble. CURRENCY TRADING SUMMARY – 01 APRIL 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was choppy losing ground versus a number of majors in the early part of the New York session, yet any further negativity was capped on a surprisingly boisterous reading in… read more
Australian FOREX Daily Outlook 31/03/2008
March 31, 2008US Share markets fall on credit concerns, as Michigan Sentiment falls to 16 year low. CURRENCY TRADING SUMMARY – 31 MARCH 2008 (00:30GMT) ·U.S. Dollar Trading (USD) gave up its daily gains against a number of majors initially buoyed by Core PCE figures for the month of February which were… read more
Australian FOREX Daily Outlook 28/03/2008
March 28, 2008US GDP on expectations ahead of PCE data release. CURRENCY TRADING SUMMARY – 28 MARCH 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was firm against a number of majors on the back of a string positive economic data. GDP figures were confirmed at 0.6% for the fourth quarter with an upward… read more
Australian FOREX Daily Outlook 27/03/2008
March 27, 2008German IFO props up the Euro, as US New home sales declined to a 13 month low. CURRENCY TRADING SUMMARY – 27 MARCH 2008 (00:30GMT) U.S. Dollar Trading (USD) fell as New Home Sales (Feb) fell for the fourth straight month by 1.8% to a 13 year low as the… read more
Australian FOREX Daily Outlook 26/03/2008
March 26, 2008Dollar falls on Poor Consumer Confidence. New Home Sales and German IFO key CURRENCY TRADING SUMMARY – 26 MARCH 2008 (00:30GMT) ·U.S. Dollar Trading (USD) saw second tier data in the form of Consumer Confidence for the month of March decline to its lowest level in five years in retrospect… read more
