CURRENCY TRADING SUMMARY –29 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) was mixed against all other majors with comments made by Federal Reserve Chairman that the recent slowing of the housing market has clouded the US economic outlook. In his address to a joint economic committee, Bernanke said the central… 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 28/03/2007
March 28, 2007CURRENCY TRADING SUMMARY –28 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) weakened against other majors with poor Consumer Confidence and ongoing concerns over the slowing of the US housing Markets adding further indication of an interest rate cut in 2007. In US share markets, the NASDAQ was down 18.20 points… read more
Australian FOREX Daily Outlook 27/03/2007
March 27, 2007CURRENCY TRADING SUMMARY –27 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) slipped against a basket of currencies on Monday as data showed that new home sales fell to an annual rate of 848k (lowest since June 2000, boosting expectations of a Fed interest rate cut) with the previous being revised… read more
Australian FOREX Daily Outlook 26/03/2007
March 26, 2007CURRENCY TRADING SUMMARY –26 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) strengthened on Fridays trading against a bulk of majors. Following a better than expected number in existing-home sales, was seen as reducing chances of a cut in interest rates by mid year. The Figure which was forecasted to be… read more
Australian FOREX Daily Outlook 23/03/2007
March 23, 2007CURRENCY TRADING SUMMARY –23 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) recovered on Thursday, recouping some the previous days losses. This was attributed to the fact that investors were more inclined to re-enter risky trades as the Federal Reserve moving away from the bias of raising interest rates. In US… read more
Australian FOREX Daily Outlook 21/03/2007
March 22, 2007CURRENCY TRADING SUMMARY –22 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) weakened against a basket of currencies. With the FOMC interest rate decision left unchanged at 5.25%. Although this was largely expected by economists it was dovish comments post announcement that generated Dollar weakness. With the removal of the word… read more
Australian FOREX Daily Outlook 21/03/2007
March 21, 2007CURRENCY TRADING SUMMARY –21 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) was mixed against all other majors on Tuesday, as investors remaining cautious ahead of Wednesday FOMC interest rate announcement. In US share markets, the NASDAQ was up 13.8 points (0.57%) and the Dow Jones also rose by a further… read more
Australian FOREX Daily Outlook 20/03/2007
March 20, 2007CURRENCY TRADING SUMMARY –20 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) once again was hampered by the US sub-prime mortgage market spreading to the wider economy, hence prompt the Fed to cut interest rates. This conception sent the Dollar down to a tree month low against a basket of currencies… read more
Australian FOREX Daily Outlook 19/03/2007
March 19, 2007CURRENCY TRADING SUMMARY –19 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) weakened against all majors on Friday as markets were still skeptical following the number of defaults in the sub prime mortgage markets. On the back of expected core CPI data the dollar strengthened as the figure indicated that a… read more
Australian FOREX Daily Outlook 16/03/2007
March 16, 2007CURRENCY TRADING SUMMARY –16 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) was mixed against all majors last night mainly on the back of investors remaining concerned over the sub-prime mortgage market and its effect on the wider economy. In positive news, February U.S. inflation data and January U.S. capital inflows… read more
