XAU trades lower for the fourth consecutive session. US recession unlikely. CURRENCY TRADING SUMMARY –03 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) extended its previous session gains against the Euro on Friday as Fed chairman Bernanke indicated that the central bank may look to further reduce borrowing costs in order… 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 30/11/2007
November 30, 2007Despite poor data, USD rallies against majors. Concerns of liquidity issues in Europe. CURRENCY TRADING SUMMARY –30 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) strengthened against the majors in the overnight session despite poor data locally. There are lingering concerns that liquidity issues will spread to European banks whilst Goldman… read more
Australian FOREX Daily Outlook 29/11/2007
November 29, 2007Poor existing home sales, durable goods orders, and a negative Beige Book all point to further interest rate cuts in the US. CURRENCY TRADING SUMMARY –29 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was weaker against the majors barring CHF and JPY as sales of existing homes fell 1.2% to… read more
Australian FOREX Daily Outlook 28/11/2007
November 28, 2007investment in Citigroup seen as market positive. Markets rally on the news. CURRENCY TRADING SUMMARY –28 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was generally firmer against major currencies as the Abu Dhabi Investment Authority announced they will buy a stake in Citigroup for US$7.5billion. This prompted a rebound in… read more
Australian FOREX Daily Outlook 27/11/2007
November 27, 2007Risk aversion re-enters the market. Credit issues linger. USDJPY reaches multi-year lows. CURRENCY TRADING SUMMARY –27 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was mixed in overnight trading as risk aversion played on the psyche of market participants. Goldman Sachs downgraded its rating on HSBC to “sell” claiming more losses… read more
Australian FOREX Daily Outlook 26/11/2007
November 26, 2007Japanese market holiday exaggerate moves. Euro eyes 1.50 level. Markets move on ECB official comments. CURRENCY TRADING SUMMARY –26 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was generally weaker in a shortened session in New York as a Japanese market holiday and thin volumes exacerbated currency moves. The USD was… read more
Australian FOREX Daily Outlook 23/11/2007
November 23, 2007Thanksgiving a cause for quiet markets. UK GDP set for release CURRENCY TRADING SUMMARY –23 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was range bound against a number of majors as Thanksgiving holidays ensured thin trading across the board. Despite this, market sentiment remained on views that the Federal Reserve… read more
Australian FOREX Daily Outlook 22/11/2007
November 22, 2007Oil closes in on $100 a barrel trading with a record high of US$99.29. Lower stock prices cause market volatility. CURRENCY TRADING SUMMARY –22 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) the dollar was mixed against a basket currency on Wednesday on a broadly bearish sentiment that credit woes will… read more
Australian FOREX Daily Outlook 21/11/2007
November 21, 2007FOMC minutes confirms a “close call” and a projected slow down in economic growth for 2008 CURRENCY TRADING SUMMARY –21 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased against a basket of majors and traded at a record low versus the Euro and Swiss Franc on concerns that ongoing credit… read more
Australian FOREX Daily Outlook 20/11/2007
November 20, 2007Stock prices fall ask credit woes continue. FOMC minutes set for release. CURRENCY TRADING SUMMARY –20 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) rebounded on Monday as drops in stock prices prevented traders from entering into risky carry trades, once again relieving the USD of its pressure against a number… read more
