RBA Ahead, 60% chance to Cut, AUD on Backfoot U.S. Dollar Trading (USD) USD weakness retraced after the heavy falls on Friday after the weak Q2 GDP report. EUR/USD and USD/JPY were largely unchanged but the Dollar bounced against most other pairs. WTI/OIL was very weak down 4% to test… 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
July 29, 2016AUD/USD settled in a tight range just above 0.7500 as the market settled down post CPI and FOMC. With the RBA on Tuesday the market will by unlikely to rally sharply ahead of a potential interest rate cut. The USD is on the backfoot post FOMC though so that is… read more
Daily Outlook
July 28, 2016The FOMC statement opened the door to a 2nd half 2016 interest rate hike at its meeting today but the USD has failed to hold onto gains and has staged a dramatic reversal lower so far in the Thursday Asian session. Led by the EUR/USD and GBP/USD, the market… read more
Daily Outlook
July 26, 2016Yen Strong as USD/JPY falls back below Y105 U.S. Dollar Trading (USD) USD Strength continued into the new week ahead of the all important FOMC meeting Wednesday. OIL/USD weakness is helping the USD strength intensify against the commodity currencies. The FED is likely to remain on hold but many see… read more
Daily Outlook
July 25, 2016Although the financial calendar is rather empty today, with only German IFO being a market mover, this week is very important in terms of data releases. FOMC is meeting on Wednesday while the Bank of Japan meets on Friday. There is very little chance for Fed to hike interest rate… read more
Daily Outlook
July 22, 2016The AUD/USD selloff paused yesterday at 0.7450 and we have rebounded to 0.7500 where we have stabilized. A huge week of economic data next week will have a big impact on the next direction for the AUD with Wednesday’s Q2 CPI release the most important with its direct impact on… read more
Dow Jones Rally enters 8th Day, USD Strong
July 20, 2016Dow Jones Rally enters 8th Day, USD Strong U.S. Dollar Trading (USD) US stocks eked out another day of gains albeit only small closing at fresh all time highs and helping to stabilize the rest of the market caught in risk off trade during the Asian and European sessions. Oil… read more
Markets Sideways, NZD Sold as August Rate Cut odds Firm U.S. Dollar Trading (USD) Risk remained on with a rebound after the failed coup in Turkey saw investors keen to resume buying. The USD gained against the JPY but was generally muted against most pairs. OIL/USD remained firm and this… read more
Daily Outlook
July 18, 2016The new week begins with Japan on Holiday. Markets are generally staying in Friday’s range with new factors influencing it, such as the attempted coup in Turkey last Friday. ECB meeting is the main focus of the week as President Mario Draghi would address questions regarding the impact of Brexit…. read more
Daily Outlook
July 18, 2016Fresh All Time Highs for US Stocks U.S. Dollar Trading (USD) The aggressive rally in Global stocks continued overnight without pause and some key levels were broken on the US DOW30 which broke to all time fresh highs above 18370. The USD as a safe haven was mixed gaining against… read more
