Soybean futures jumped more than 6% to a nearly two-year high on Tuesday after the U.S Department of Agriculture (USDA) lowers its 2016/17 soybean production forecast. The USDA lowered production expectations by 129 million to 3,800 million bushels, due to poor harvest and trend yields on 2015 crops. The latest… 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
May 10, 2016Commodities market tradeable in China tanked on Monday, led by 6% falls in steel and iron ore futures, as concerns about China’s demand extended after the trade balance data came out on Sunday. Speculative funds have rushed into China’s commodities futures market in recent months with an optimistic view of… read more
Daily Outlook
May 9, 2016The US monthly employment data came mixed last Friday. Non-farm employment change missed expectations while average hourly earnings was better than anticipated. The US dollar dropped an average of 50 pips against major currencies initially, rebounding quickly however as the market digested the broader content of the report. Federal Reserve… read more
Daily Outlook
May 6, 2016Global equities are jittery this week led by weakness in Asian and European stocks. The German DAX has fallen 3% this week and below its psychological level of 10,000. Concerns over China and global economy resurface as China’s latest manufacturing and services PMI data came below expectation. After positive March’s… read more
Bullet Report
May 4, 2016A relatively quiet Asian session while the EUR retreats after climbing above $1600 levels on Tuesday on the back of weaker US dollar. The positive data showing improvement in Manufacturing in Eurozone and Germany also helped the single currency to gain momentum. While the Market waits for the ADP –… read more
Daily Outlook
May 4, 2016The Australian Dollar fell more than 2 cents or 2.4% as the Reserve Bank of Australia decided to lower rates to 1.75%, USD strength returning to market and pullback in commodities prices overnight. The RBA highlighted unexpectedly low Q1 CPI and less risk for the housing market for their decision… read more
Bullet Report
May 3, 2016As the Reserve Bank of Australia cut interest rates by 25bp, from 2% to 1.75%, the Australian Dollar took a sharp plunge. Even though the global economy has a seen an overall growth but the pace of growth is still lower than expectation. The Euro continues to climb on the… read more
Daily Outlook
May 3, 2016The Australian Dollar is in focus today as anticipation over whether the Reserve Bank of Australia will cut interest rate by 25bps remains a key moot point. Market is factoring in 53% chance of a cut with analysts and economists also split on the decision. With such a close call,… read more
Daily Outlook
May 2, 2016The Australian Dollar is in focus this week as anticipation over whether the Reserve Bank of Australia will cut tomorrow remains a key moot point. Market is factoring in 52% chance of a cut with analysts and economists also split on the decision. Whether the negative Q1 CPI print is enough… read more
Daily Snapshot
April 29, 2016Traders should exhibit caution if planning on holding positions over the weekend. China PMI manufacturing data is due 11:00am Sunday (AEST) holding strong potential to disturb market sentiment. With the recent increase in stimulus from the People’s Bank of China, expectations are for a slight expansion in the manufacturing sector…. read more
