CURRENCY TRADING SUMMARY –27 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) softened against all other majors on Monday. This was on the back of data due for release out of the US expected to warrant an interest rate cut in the near future. Overall the market was in a precautious… 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 26/02/2007
February 26, 2007CURRENCY TRADING SUMMARY –26 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) the dollar was mixed against all other majors on Friday to end the week, on the back of weak economic data and a trend in impressive data from other regions especially the Euro zone. In US share markets the… read more
Australian FOREX Daily Outlook 23/02/2007
February 23, 2007CURRENCY TRADING SUMMARY –23 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) was initially stronger against all other majors reaching a week high against the Euro, as further details of the Fed reserve policy meeting reduced expectations for an interest rate cut this year. In other news initial Jobless claims out… read more
Australian FOREX Daily Outlook 22/02/2007
February 22, 2007CURRENCY TRADING SUMMARY –22 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) strengthened following better than expected Core CPI, indicating inflation was still a key factor, hence the Fed will not look to cut interest rates in the near future. CPI came in at 0.3% higher than the forecasted 0.2%.Furthermore the… read more
Australian FOREX Daily Outlook 21/02/2007
February 21, 2007CURRENCY TRADING SUMMARY –21 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) following a slow start to the week due to a public holiday, on Tuesday the US markets experienced a quiet day of trading on the back of little key data release. The dollar was mixed against all other majors… read more
Australian FOREX Daily Outlook 20/02/2007
February 20, 2007CURRENCY TRADING SUMMARY –20 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) saw markets closed for President’s day, with most major currencies drifting against the dollar. US share markets were also closed Monday. Crude oil dropped by US$0.87 a barrel to US$58.52. Looking ahead, US economic releases are few this week… read more
Australian FOREX Daily Outlook 19/02/2007
February 19, 2007CURRENCY TRADING SUMMARY –19 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) continued its wave of poor economic data on Friday with Housing Starts weaker than expected coming in at 1.408 mln significantly lower than the 1.6 mln forecasted, whilst Core PPI was unchanged at 0.2%. Furthermore, it was a considerably… read more
Australian FOREX Daily Outlook 16/02/2007
February 16, 2007CURRENCY TRADING SUMMARY –16 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) dropped on Thursday against all other majors bar the GBP despite vigorous comments made by Ben Bernanke implying an interest rates hike if inflation moved higher. Bernanke warned that the US economy might be stronger than it appears during… read more
Australian FOREX Daily Outlook 15/02/2007
February 15, 2007CURRENCY TRADING SUMMARY –15 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) fell against all other majors following poor economic data and statements made by Federal Reserve chairman Bernanke. As a result the USD fell to six week lows against the Euro as Bernanke indicated that inflation pressures were receding in… read more
Australian FOREX Daily Outlook 14/02/2007
February 14, 2007CURRENCY TRADING SUMMARY –14 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) dropped yesterday following a widening of the trade deficit, raising concerns over US economic growth. With markets forecasting a figure of -59.50 bln the figure was released worse than expected at -61.18 bln. As a result the USD weakened… read more
