The S&P500 made new record high, as Oil rallied for third session and Chinese stocks breaking higher after multi month consolidation. China A50 index futures increased 5% since Friday on rumours of PBOC’s stimulus and also playing catch up with global indices. The breakout is significant as price hovers above… 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
August 15, 2016AUD/USD had a very volatile end to the week with some very weak US retail sales offering a short lived rally back above 0.7700. The AUD/USD then proceeded to slump to day lows 0.7650 closing on a weak footing technically as charts are beginning to look toppy. Profit taking… read more
Daily Outlook
August 12, 2016Another day, another stock market record as US equities climbed to new highs. Focus today will turn to the US retail sales which is the most important news event this week. Also EU industrial production for June will be released. Currencies: USDJPY rallied overnight since it is directly correlated with the… read more
Daily Outlook
August 11, 2016This Morning, RBNZ delivered a 25bp rate cut to 2.00%. After the announcement, NZDUSD jumped 150pips to 0.7340. The rally results from the near-certainty of the rate cut and the Interest rate markets have been fully priced for this 25bp cut with a small chance of an aggressive 50bp cut…. read more
Daily Outlook
August 10, 2016After testing 0.7660 resistance level in early trade, AUDUSD traded lower later in the Asian session Tuesday on weakening Business confidence and forecast of more aggressive RBA cuts from one of the big four banks. NAB now expect 2 rats cuts in 2017 bringing the RBA Cash Rate to 1.0%… read more
Daily Outlook
August 9, 2016AUDUSD has traded inside a bullish structure starting from July27. Overnight, price hit the 0.7660 key resistance level, which has been tested five times in the past few weeks. So far the key level has held and we are steady at 0.7660 as we enter Tuesday Trade. NAB June Business… read more
Daily Outlook
August 8, 2016The Australian Dollar finished weaker at Friday New York session to 0.7610 after posting 0.7663 high, as US employment data showed better than expected figures. 255k new jobs were created, posting strong back to back jobs data as previous month was also revised higher to 292k. Wage hourly earnings increased… read more
Daily Outlook
August 5, 2016AUD/USD continued to grind higher overnight and has broken to fresh week highs this Friday morning at 0.7643. The USD continues to be weak and the Australian Dollar is taking advantage of this. The rebound in WTI OIL to $42 and stronger Global stock markets post the Bank of England… read more
Daily Outlook
August 4, 2016The AUD/USD was quiet Wednesday consolidating some of the large gains on Tuesday post RBA. A USD rebound in the US session on strong ADP Job numbers sent the AUD/USD slightly lower under 0.9600 to 0.9580. The AUD did well against the NZD however with the market now… read more
Daily Outlook
August 3, 2016AUD/USD surprised the bears with a sharp rebound yesterday post the RBA rate cut. The RBA delivered a widely anticipated 25bps cut to bring the cash rate to 1.50% AUD/USD hit day lows at 0.7490 immediately after the decision but then spent the rest of the day rallying… read more
