MARKET SUMMARY –24FEB06 (05:00GMT) The Dollar was down across the board overnight, sparked initially by yen strength in Asia and assisted further by strong German business sentiment data. The dollar managed to pare back some of its losses against the major currencies due to better than expected jobless claims data…. 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 23/02/2006
February 23, 2006MARKET SUMMARY –23FEB06 (05:00GMT) The Dollar continued to play the range game overnight versus the major currencies as the US CPI failed to inspire direction. The US CPI rose more than expected in January. It was up 0.7% on a monthly basis, compared to the consensus of 0.5%. Annual CPI… read more
Australian FOREX Daily Outlook 22/02/2006
February 22, 2006MARKET SUMMARY –22FEB06 (05:00GMT) The Dollar traded sideways against the major currencies in another subdued overnight session as the FOMC provided no surprises. Minutes from the Federal Reserve meeting of January showed that members though rates were near where they needed to be and that further rate hikes would depend… read more
Australian FOREX Daily Outlook 21/02/2006
February 21, 2006MARKET SUMMARY –21FEB06 (05:00GMT) The Dollar traded sideways against the major currencies in a lackluster overnight session with the US closed due to Presidents Day. Crude oil prices rose by US$1.63 to US$61.53 a barrel. Looking ahead and the minutes from the last FOMC are to be released later today… read more
Australian FOREX Daily Outlook 20/02/2006
February 20, 2006MARKET SUMMARY –20FEB06 (05:00GMT) The Dollar weakened slightly against the major currencies on Friday as traders preferred to focus on the weaker-than-expected consumer sentiment reading rather than the sharp lift in core producer prices. The University of Michigan consumer sentiment index eased from 91.2 to 87.4 in February, short of… read more
Australian FOREX Daily Outlook 17/02/2006
February 17, 2006MARKET SUMMARY –17FEB06 (05:00GMT) The Dollar was largely unchanged overnight against the major currencies despite further comments by Bernanke and a number of data releases. Bernanke stated that the Federal Reserve is not concerned with the implications for future economic activity from the inverted yield curve. On the data front,… read more
Australian FOREX Daily Outlook 16/02/2006
February 16, 2006MARKET SUMMARY –16FEB06 (05:00GMT) The Dollar rose against the major currencies overnight after Federal Reserve Chairman Ben Bernanke pointed to the potential for further rate hikes in coming months. In testimony to the House of Representatives, Bernanke said that “the risks exists that, with aggregate demand exhibiting considerable momentum, output… read more
Australian FOREX Daily Outlook 15/02/2006
February 15, 2006MARKET SUMMARY –15FEB06 (05:00GMT) The Dollar strengthened against the major currencies after retail sales figures in the States were much stronger than expected. However the dollar could not hold onto its gains and ended up marginally weaker versus the majors by the end of the New York session. US retail… read more
Australian FOREX Daily Outlook 14/02/2006
February 14, 2006MARKET SUMMARY –14FEB06 (05:00GMT) The Dollar weakened modestly against the major currencies overnight with traders choosing to square positions ahead of the Federal Reserve chairman’s testimony later in the week. There was little in the way of economic developments overnight, other than some upbeat comments by Cleveland Fed President Pianalto…. read more
Australian FOREX Daily Outlook 13/02/2006
February 13, 2006MARKET SUMMARY –13FEB06 (05:00GMT) The Dollar fell against the major currencies following news of a widening trade deficit, only to claw back losses and extend gains by the end of the New York session. The US trade deficit widened to US$65.68 billion in December, up from US$64.69 billion in November…. read more
