MARKET SUMMARY –29MAR06 (05:00GMT) The Dollar surged higher against major currencies overnight after the Fed raised the cash rate by 25 basis points to 4.75% and retained the key phrase “some further policy firming may be needed”. This left the markets with a sense that they retain a firm tightening… 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 28/03/2006
March 28, 2006MARKET SUMMARY –28MAR06 (05:00GMT) The Dollar was mixed versus major currencies overnight in subdued trading, as many investors kept to the sidelines ahead of the Federal Reserve interest rate decision. In other markets, US shares were mixed overnight with the Dow Jones closing down 30pts while the NASDAQ was up… read more
Australian FOREX Daily Outlook 27/03/2006
March 27, 2006MARKET SUMMARY –27MAR06 (05:00GMT) The recent Dollar strength was halted and sharply reversed on Friday night, after poor new homes sales data. US new homes sales fell by 10.5% to 1.080 million in February, the largest fall in nine years. The market had expected 1.208 million new home sales. New… read more
Australian FOREX Daily Outlook 23/03/2006
March 23, 2006MARKET SUMMARY –23MAR06 (05:00GMT) The Dollar was mixed against the major currencies overnight, with no market-moving events or data to provide direction. The Chicago Federal Reserve reported that its National Activity index rose from +0.28 to +0.32 in February. Any reading above zero indicates that economic growth is above its… read more
Australian FOREX Daily Outlook 22/03/2006
March 22, 2006MARKET SUMMARY –22MAR06 (05:00GMT) The Dollar was stronger versus the major currencies overnight due to stronger than expected US economic data. US headline producer prices fell 1.4% in February the market was expecting a .2% decline. The large fall was due to plunging food and energy costs. However, the core… read more
Australian FOREX Daily Outlook 21/03/2006
March 21, 2006MARKET SUMMARY –21MAR06 (05:00GMT) The Dollar was mixed against the major currencies overnight. The market preferred to wait for direction from Federal Reserve chairman Ben Bernanke’s speech on monetary policy. On the data front, the Conference Board released their US leading index overnight. The index fell by 0.2% in February,… read more
Australian FOREX Daily Outlook 20/03/2006
March 20, 2006MARKET SUMMARY –20MAR06 (05:00GMT) The Dollar continued to lose ground against the Euro and Japanese yen on Friday as traders scaled back expectations of possible US rate hikes. However, the greenback gained against the high yielding currencies (Australian & NZ dollar). US economic data was mixed on Friday. US industrial… read more
Australian FOREX Daily Outlook 17/03/2006
March 17, 2006MARKET SUMMARY –17MAR06 (05:00GMT) The Dollar continued to weaken against the major currencies overnight. The greenback was weaker due to concerns about future interest rate hikes easing. US headline inflation rose as expected 0.1% in February to be 3.6% higher than a year ago. Core inflation rose 0.1%, less than… read more
Australian FOREX Daily Outlook 16/03/2006
March 16, 2006MARKET SUMMARY –16MAR06 (05:00GMT) The Dollar was again sold off overnight against the major currencies as the market preferred to focus on capital inflows (US$ 66 bio as forecasted), which failed to cover the trade deficit for the 2nd consecutive month. The currency market ignored a better than expected Empire… read more
Australian FOREX Daily Outlook 15/03/2006
March 15, 2006MARKET SUMMARY –15MAR06 (05:00GMT) The Dollar weakened against the major currencies overnight on the back of speculation that the Fed was close to ending its tightening cycle. The dollar suffered from a publication from Medley Global Advisers saying that the Fed might not hike more than once or twice more…. read more
