ISM services add to US confidence, while ECPB President Trichet indicates uncertainty. CURRENCY TRADING SUMMARY –07 SEPTEMBER 2007 (00:30GMT) U.S. Dollar Trading (USD) saw the release of ISM services provided confidence in the market, indicating strength in the underlying economy. The USD was also able to gain from a decline… 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 06/09/2007
September 6, 2007US Shares fall, USD weakens as pending home sales disappoints. CURRENCY TRADING SUMMARY –06 SEPTEMBER 2007 (00:30GMT) U.S. Dollar Trading (USD) was generally weaker against major currencies as pending home sales disappointed posting a -12.2% result compared to a -2% estimate. ADP payrolls came in at +38k the smallest increase… read more
Australian FOREX Daily Outlook 05/09/2007
September 5, 2007US equity prices post strong gains as Manufacturing still in growth. RBA hold rates. 05 SEPTEMBER 2007 (00:30GMT)CURRENCY TRADING SUMMARY – U.S. Dollar Trading (USD) gained across the board as equity prices firmed, despite ISM manufacturing indicated slowing activity for the month of August, coming in at 52.9 (Forecast: 53.0)…. read more
Australian FOREX Daily Outlook 04/09/2007
September 4, 2007US Market Holiday keeps currencies range bound. ISM Manufacturing and EZ GDP key data releases. CURRENCY TRADING SUMMARY –04 SEPTEMBER 2007 (00:30GMT) U.S. Dollar Trading (USD) was steady to begin with a volume filled data week scheduled. Economic data listed is expected to outline the extent of the credit market… read more
Australian FOREX Daily Outlook 03/09/2007
September 3, 2007Bernanke says Fed ready to, but not inclined to “Act”. Bush reveals plan to stem foreclosures. CURRENCY TRADING SUMMARY –03 SEPTEMBER 2007 (00:30GMT) U.S. Dollar Trading (USD) had mid day rally following admissions by President George W. Bush and Federal Reserve Chairman Ben Bernanke that there would be no bailout… read more
Australian FOREX Daily Outlook 31/08/2007
August 31, 2007Markets Cautious ahead of Bernanke’s speech. Japanese CPI point of interest. CURRENCY TRADING SUMMARY –31 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) rebounded on Thursday as investor’s looked to pair off risky assets. U.S. share markets lost modest ground in an uninspiring session, ensuring that the USD was able to… read more
Australian FOREX Daily Outlook 30/08/2007
August 30, 2007Rebounding Global equities support high Yielder’s. Bernanke further indicates of rate cuts. CURRENCY TRADING SUMMARY –30 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) gave up most of its previous session gains against a bulk of majors following rebounds in global stock prices. Markets were buoyed by a letter from the… read more
Australian FOREX Daily Outlook 29/08/2007
August 29, 2007Soft U.S. housing data cause markets to dive. FOMC hints at policy loosening. CURRENCY TRADING SUMMARY –29 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) the USD rallied on Tuesday, following weak data out of the US, in which market reacted by taking a risk aversion approach. High yielding currencies were… read more
Australian FOREX Daily Outlook 28/08/2007
August 28, 2007Trichet reneges on his “vigilance” placing doubt on rate hikes in a volatile market. CURRENCY TRADING SUMMARY –28 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) rebounded on Tuesday across the board, as investors focused on maintaining exposure to the risky assets at a minimum with ongoing fears regarding the credit… read more
Australian FOREX Daily Outlook 27/08/2007
August 27, 2007Positive US Home Sales provides for a confident market as equity prices continue to rebound. CURRENCY TRADING SUMMARY –27 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) eased further on Friday against a basket of currencies as buoyant economic data did little to ease the economic worries of global credit issues… read more
