CURRENCY TRADING SUMMARY –18JULY06 (05:00GMT) U.S. Dollar Trading (USD) rose against the major currencies in the overnight forex trading session as strong local data and Middle East tensions helped to strengthen the greenback. US industrial production rose by 0.8% in June, beating forecasts of a rise of only 0.4%. The… 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 17/07/2006
July 17, 2006CURRENCY TRADING SUMMARY –17JULY06 (05:00GMT) U.S. Dollar Trading (USD) strengthened against the majors in the overnight foreign exchange trading session even as data showed softer-than-expected US consumer sentiment and retails sales, as concerns over escalating violence in the Middle East prompted a safe-haven rally. The Michigan survey fell to 83.0… read more
Australian FOREX Daily Outlook 13/07/2006
July 13, 2006CURRENCY TRADING SUMMARY –13JULY06 (05:00GMT) U.S. Dollar Trading (USD) strengthened against the majors in the overnight forex trading session after the news release that the US trade balance widened less than expected. US trade widened from -$63.3bln in April to -$63.8bln in May. The market had forecasted a widening of… read more
Australian FOREX Daily Outlook 12/07/2006
July 12, 2006CURRENCY TRADING SUMMARY –12JULY06 (05:00GMT) U.S. Dollar Trading (USD) remained relatively stable against the majors in the overnight foreign exchange trading session as the forex market eagerly awaits the decision of the Bank of Japan this Friday with regards to interest rates. Japanese Finance Minister Sadakazu Tanigaki reiterated that the… read more
Australian FOREX Daily Outlook 11/07/2006
July 11, 2006CURRENCY TRADING SUMMARY –11JULY06 (05:00GMT) U.S. Dollar Trading (USD) weakened initially against the majors, however made a late rally in the overnight forex trading session, pairing back losses from the soft payroll data released last week. Covering of short term short positions were seen as the catalyst for the Dollar… read more
Australian FOREX Daily Outlook 10/07/2006
July 10, 2006CURRENCY TRADING SUMMARY –10JULY06 (05:00GMT) U.S. Dollar Trading (USD) weakened against the major currencies in the Friday night forex trading session as US non-farm payrolls disappointed coming in below forecasts. Non-farm payrolls increased by 121k for June, considerably below market expectations of 175k. This compares with a May result of… read more
Australian FOREX Daily Outlook 07/07/2006
July 7, 2006CURRENCY TRADING SUMMARY –7JULY06 (05:00GMT) U.S. Dollar Trading (USD) fell against the major currencies in the overnight session as a weaker ISM survey coupled with hawkish comments from the ECB President helped to pull the dollar down in the forex markets. The US non-manufacturing ISM survey fell to 57.0 in… read more
Australian FOREX Daily Outlook 06/07/2006
July 6, 2006CURRENCY TRADING SUMMARY –6JULY06 (05:00GMT) U.S. Dollar Trading (USD) experienced resurgence in the overnight session as forex buyers back from their Independence Day holiday bought the USD after strong ADP payroll survey and factory orders data were released. The ADP US National Employment Report showed a rise of 368k jobs… read more
Australian FOREX Daily Outlook 05/07/2006
July 5, 2006MARKET SUMMARY –5JULY06 (05:00GMT) The Dollar experienced relatively flat trading in the overnight session as thin volumes dominated the market due to the US Independence Day holiday. In other markets, due to the US public holiday the Dow Jones and the NASDAQ were closed for trading. Crude oil remained steady… read more
Australian FOREX Daily Outlook 04/07/2006
July 4, 2006MARKET SUMMARY –4JULY06 (05:00GMT) The Dollar was mixed in the overnight session due to expected thin market trading ahead of the US Independence Day holiday. The US ISM manufacturing survey fell to 53.8 from 54.4 the previous month after the market had expected a lift to 55.0. In other markets,… read more
