Oil prices rose Monday after more oil-producing countries including Russia, agreed to slash production. A move aimed at pushing the oversupplied oil market into balance, so as to prop up a crude market that had been stuck in a two-year slump. The non-OPEC producers agreed to scale back their output by… 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
December 12, 2016The Euro fell overnight as the market interpreted commentary by Mario Draghi as meaning that QE is here to stay. The expectation of a rate hike in the U.S. this week also helped to push the currency further and fueled risk appetite. Equity markets soared with the German Dax now… read more
Daily Outlook
December 9, 2016The euro dropped over 1 percent last night after the European Central Bank extended their asset purchase program until the end of next year. Comments by ECB President Mario Draghi that cuts to the size of the program should not be viewed as tapering were also a factor. The ECB said… read more
Daily Outlook
December 8, 2016The AUD managed to brush aside the weakest GDP number since the GFC. According to the ABS, real GDP in seasonally adjusted terms fell by 0.5% to leave the year-on-year increase at 1.8%. Markets had been expecting a quarterly decline of 0.1% which would have left the year-on-year growth rate… read more
Daily Outlook
December 2, 2016US November NonFarm Payrolls brings an end to a very volatile week in the markets highlighted by waves of USD strength and OPEC Meeting Oil Production Deal that sent OIL/USD above $50 a barrel for the first time in months. A strong US NFP number (forecast is 177k vs. 161k… read more
Daily Outlook
November 29, 2016Centre of attention are events in Europe as sentiment shifts from Trumps bull run as stocks and the USD held. The US dollar index fell 0.3% at NY close as USD/JPY survived above the 111.50 despite closing 1.15% lower. Oil finished at 47.08, up 2.2%, as speculation surrounds Wednesday’s… read more
Daily Outlook
November 28, 2016AUD/USD finished at week highs 0.7450 as commodities surged in the Chinese and US exchanges. Iron Ore is back above $80 and is supporting the view that China economy rebound is gaining traction. Combined with Trump US infrastructure plans the general outlook for the AUD is improving but the… read more
Daily Outlook
November 24, 2016The Australian Dollar rose to high of 0.7446 before European sellers controlled the price to 0.7420 at the NY opening. With Trump as the catalyst Aussie fell to 0.7373 before levelling off in a 0.7380 corridor. With emerging market risk unsettled by overnight events it’s unlikely we’ll see a recovery… read more
Daily Outlook
November 23, 2016The Australian Dollar closed tight on 0.7400 after trading in a … range between 0.7418 resistance and 0.7311 support as sellers were squeezed among likely profit taking. Impressive US home sales data was offset by a surge in base metal prices led by iron ore. The pair seems glued to… read more
Daily Outlook
November 21, 2016A pullback in base metals and weakness on AXJ currencies saw the Australian dollar continue its decline vs USD as it heads towards major support bases at 0.7305 and 0.7286. After Friday slides vs the Kiwi led to a 1.2% weekly loss, a bounce in early Asia heads towards 1.0490… read more
