MARKET SUMMARY –14MAR06 (05:00GMT) The Dollar was slightly weaker versus the major currencies as the market interpreted comments by Federal Reserve President Janet Yellen to be mildly dovish. Yellen indicated that the Fed should be sensitive to the possibility of overshooting on tightening. In other markets, US shares traded sideways… 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 10/03/2006
March 10, 2006MARKET SUMMARY –10MAR06 (05:00GMT) The Dollar shrugged of a record trade deficit and continued to make gain against the major currencies overnight. The market continues to focus on inflationary issues rather than structural areas of the economy, and continue to buy dollars in expectation of strong payrolls data tonight. The… read more
Australian FOREX Daily Outlook 09/03/2006
March 9, 2006MARKET SUMMARY –09MAR06 (05:00GMT) The Dollar was range bound overnight as the market awaits a policy decision by the Bank of Japan later today and the US payroll s report on Friday. There were no major data releases in the States overnight. St Louis Federal Reserve President William Poole indicated… read more
Australian FOREX Daily Outlook 08/03/2006
March 8, 2006MARKET SUMMARY –08MAR06 (05:00GMT) The Dollar continued to make further gains against major currencies overnight, after Federal Reserve president William Poole warned of more rate hikes if US economic data remained strong. On the data front, US productivity growth in December quarter was revised to show a decline of 0.5%,… read more
Australian FOREX Daily Outlook 07/03/2006
March 7, 2006MARKET SUMMARY –07MAR06 (05:00GMT) The Dollar strengthened against the major currencies overnight due to higher US bond yields. US treasuries fell (yields higher) as investors expect the Federal Reserve to lift rates again at its next meeting on March 27 & 28. This is despite US factory orders falling by… read more
Australian FOREX Daily Outlook 06/03/2006
March 6, 2006MARKET SUMMARY –06MAR06 (05:00GMT) The Dollar for the most part traded sideways against the major currencies on Friday. The US ISM services index rose from 56.8 to 60.1 in February with employment up but prices – paid index easing. The market expectations had centered on 58.0. The final reading of… read more
Australian FOREX Daily Outlook 03/03/2006
March 3, 2006MARKET SUMMARY –03MAR06 (05:00GMT) The Dollar fell against the major currencies overnight. The dollar fell to three-week lows against the euro following the ECB raising rates and its inflation forecast for 2007. Also weighing on the dollar was new claims for jobless benefits which rose more than expected last week… read more
Australian FOREX Daily Outlook 02/03/2006
March 2, 2006MARKET SUMMARY –02MAR06 (05:00GMT) The Dollar was mixed against major currencies overnight. However, the stronger than expected ISM manufacturing index reading lifted the dollar midway through the New York session. The US ISM manufacturing index rose more than expected to 56.7 in February from 54.8 in January. The index showed… read more
Australian FOREX Daily Outlook 28/02/2006
February 28, 200628FEB06 (05:00GMT)MARKET SUMMARY – The Dollar gravitated in tight ranges against the major currencies overnight with little in the way of fundamental news to provide direction. US new home sales fell by 5% in January to 1.233 million units, below forecasts centered on a result near 1.26m. The supply of… read more
Australian FOREX Daily Outlook 27/02/2006
February 27, 2006MARKET SUMMARY –27FEB06 (05:00GMT) The Dollar was generally stronger against the major currencies on Friday night despite weaker than expected US durable good orders. US durable goods fell by 10.2% in January, driven by a sharp fall in aircraft orders. The market was expecting a 1% fall in durable goods.The… read more
