Markets took a breather overnight, in readiness for the Presidents appearance before Congress at around 9:00PM EST (1:00PM Wednesday AEDT). Fed Member Kaplan reiterated his view of March rate hike and the market reaction to U.S. durable goods was muted. Generally tight, orderly trade across most markets overnight. Gold reversed… 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.
Daily Outlook
February 27, 2017A big week ahead in markets. President Trump will address a joint session of Congress on Tuesday evening (early Wednesday Asian session) to announce his phenomenal tax plan, five FOMC members will speak throughout the week, and Fed Chair Janet Yellen addresses the US Economic Outlook on Saturday morning. Trumps… read more
Daily Outlook
February 24, 2017After yesterdays Fed Meeting minutes’ ambiguity, overnight, US Treasury Secretary Steve Mnunchin stated he wants to see “significant tax reform passed before Congress’ August recess”. The realities of passing complex, and as yet unknown, plans are starting to creep into the market. Consensus is building that Trumps promise of ‘phenomenal’… read more
Daily Outlook
February 23, 2017Federal Reserve meeting minutes suggested a rate hike would be coming “fairly soon” in minutes released 6:00AM EADT. Concern over this ambiguous timeframe saw the US Dollar Index fall to Tuesdays 10,110 level, boosting major pairs including the AUD/USD which surged through the 0.7700 level. Both the Euro and Pound… read more
Daily Outlook
February 22, 2017US traders returned to the market after the Presidents Day holiday on Monday to buy US equity indexes once again, driving the DOW (20743), S&P500 (2365) and Nasdaq (5866) to all-time highs. The temptation for traders to pick the highs in these US indices is growing – and for good… read more
Daily Outlook
February 21, 2017Daily Outlook – Tuesday 21st February Yesterdays Presidents Day Bank Holiday in the U.S. lead to subdued price action overnight. Indices and currency markets trading in tight ranges. The UKs House of Lords did however start debating the Brexit Bill, if approved will trigger Article 50, which sets out how… read more
Daily Outlook
February 20, 2017Friday night saw broad-based US Dollar strength as the Index bounce off last week’s 1.0035 level and finished the week flat. Some continued pressure on the AUD/USD – breaking and closing below the 0.7700 level – the week ahead sees two Governor Lowe speaking events, Meeting minutes and Private CAPEX… read more
Daily Outlook
February 17, 2017Australia The unemployment rate for January was down 5.7%, employment headline up 13.5 from an expected 10K, however the internals was another story. Full time employment change was weaker, down -44.8k. This capped an initial pop (reaching 0.77325) by the AUD/USD as traders first reacted to the positive headline figures…. read more
Daily Outlook
February 16, 2017Australia Australian Employment numbers out today at 11:30. An expected figure of 9,700, should it come in stronger could see the AUD/USD test the all-important 0.7750 resistance which might force the pair out of its February range. Short term Traders who have sat short AUD/USD would not have like the… read more
Daily Outlook
February 15, 2017Janet Yellen’s scripted testimony to Washington’s Congress overnight reiterated a hawkish tone from the Fed Chair, raising the probability of a March rate hike to 23% during trade. Yellen set the markets expectation for three rate hikes this year and pointed to rising inflation and moderate economic growth as the… read more
