High yielder’s gain before correcting on drop in stock prices. US New Home sales set for release. CURRENCY TRADING SUMMARY –24 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) continued to ease across the board as a statement made by Country Financial CEO raised concerns that the US economy may be… 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 23/08/2007
August 23, 2007Rebound in the equity markets minimizes volatility as carry trade resumes. CURRENCY TRADING SUMMARY –23 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) eased across the board as equity markets moved higher overnight ensuring more composure. Markets stabilized after Sen. Christopher Dodd, chairman of the U.S. Senate Banking Committee, on Tuesday… read more
Australian FOREX Daily Outlook 22/08/2007
August 22, 2007China increase interest rates as markets remain composed. BoJ rate announcement nearing CURRENCY TRADING SUMMARY –22 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) eased further on Mondays trading on further expectations that the Federal Reserve may be inclined to take further measures to ease U.S. credit and liquidity conditions. With… read more
Australian FOREX Daily Outlook 21/08/2007
August 21, 2007Fed decision begins take course on the FX market. Cautious return to carry trades. CURRENCY TRADING SUMMARY –21 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) was flat against a number of currencies as equity markets in general stabilized on Monday. Analysts have cautioned investors with views that the credit crunch… read more
Australian FOREX Daily Outlook 19/07/2007
August 19, 2007Federal Reserve cut discount rate by 0.50% to add more liquidity. Eyes on BoJ this week. CURRENCY TRADING SUMMARY –19 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) ended its recent gains across the board following the Federal Reserve’s decision to cut its discount rate, charged on direct Fed loans to… read more
Australian FOREX Daily Outlook 17/08/2007
August 17, 2007High Yielder’s continue to spiral, as Japanese Yen surges. AUD trades at 0.7800. CURRENCY TRADING SUMMARY –17 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) continued to gain on the back of other majors with on ongoing carry trades being unwound. Furthermore, benchmark stock indexes sold off more than 1 percent… read more
Australian FOREX Daily Outlook 16/08/2007
August 16, 2007Share Markets continue to fall adding volatility to FX markets. US housing starts due out. CURRENCY TRADING SUMMARY –16 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) continued on its gains trading well away from 15 year lows seen in recent weeks. Once again the credit crunch in the U.S. prompted… read more
Australian FOREX Daily Outlook 15/08/2007
August 15, 2007Ongoing jitters in markets as credit worries continue to spread into other economies. US CPI data ahead. CURRENCY TRADING SUMMARY –15 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) continued on its correction against a basket of currencies as ongoing risk exposure weighed heavy on high yielding carry trades. As credit… read more
Australian FOREX Daily Outlook 14/08/2007
August 14, 2007Central banks further inject liquidity high yielder’s continue to lose ground. Key data day ahead for US, EZ and UK. CURRENCY TRADING SUMMARY –14 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) rallied through out the day as central banks continued to fund liquidity into financial markets, in an attempt avoid… read more
Australian FOREX Daily Outlook 13/08/2007
August 13, 2007Liquidity injection from Fed and ECB in attempt to stabilize financial markets. CURRENCY TRADING SUMMARY –13 AUGUST 2007 (00:30GMT) U.S. Dollar Trading (USD) continued to strengthen against a basket of majors excluding the Japanese Yen in a volatile market. The USD remained distant from recent 15 year lows as a… read more
