Yesterday the ECB kept rates unchanged however the EURUSD dropped after Mario Draghi downgraded growth as well as inflation expectations and hinted that the ECB is ready to add further QE in order to stimulate growth. EURUSD fell to 1.1080 from over 1.1240. Overnight, JPY crosses were hit hard as… 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.
Morning Dealing Room Technical Report
September 4, 2015Market Comment Australia The S&P/ASX 200 index dropped 1.44% or 73.665pts to 5027.8 (day range: 5175.3 – 5027.8) on Thursday. The index is below its 20d MA (@ 5269) and below its 50d MA (@ 5459). 16% of the index constituents are above their 20D MA (vs 20% the previous session)… read more
EU Session Bullet Report – ECB rate decision ahead, USD in demand
September 3, 2015The main focus of the day will be the ECB rate decision and the press conference at 12:30 GMT. ECB is not expected to change anything in regards to rate or the 60 bln monthly asset purchase program. Look for the ECB president to face questions on china’s slowdown, the… read more
Morning Dealing Room Technical Report
September 3, 2015Market Comment Australia The S&P/ASX 200 index was flat on Wednesday.Australia’s GDP rose 0.2% QoQ in 2Q (vs +0.4% expected, +0.9% in 1Q), according to the Australian Bureau of Statistics. On a YoY basis, it rose 2% in 2Q (vs +2.2% expected, +2.5% in 1Q) New Zealand’s ANZ commodity price declined 5.2% in… read more
EU Session Bullet Report – Recession or Correction
September 2, 2015US stocks again closed down on Tuesday as further panic selling gripped investors following poor manufacturing data from the US. The DOW plunged 470 points, the third biggest drop of the year. In Asia this morning, slightly worse than expected GDP data from Australia (0.2% versus 0.4% expected) did not… read more
Morning Dealing Room Technical Report
September 2, 2015Market Comment Australia The S&P/ASX 200 index dropped 2.12% or 110.566pts to 5096.41 (day range: 5214 – 5091) on Tuesday. The index is below its 20d MA (@ 5327) and below its 50d MA (@ 5483). 23% of the index constituents are above their 20D MA (vs 40% the previous session)… read more
EU Session Bullet Report – OIL, EUR, JPY rally mode on
September 1, 2015It was the calm before the storm indeed yesterday. Another selloff in US and Asian markets meant another rally for the EUR and JPY as these currencies are inversely correlated to stock markets performance. Speculators often use low yielding currencies to fund positions in higher yielding currencies and equities so… read more
Morning Dealing Room Technical Report
September 1, 2015Market Comment Australia The S&P/ASX 200 index dropped 1.07% or 56.583pts to 5206.98 (day range: 5263.6 – 5159.4) on Monday. The index is below its 20d MA (@ 5357) and below its 50d MA (@ 5495). 40% of the index constituents are above their 20D MA (vs 37% the previous… read more
EU Session Bullet Report – Heavy Week Ahead
August 31, 2015While the USD gained versus all other currencies on Friday, the picture was partially reversed this morning when Asian markets opened. Talk of a possible rate hike this year, has scared stock markets again as a high interest rate environment is creating alternative investments for money that would have gone… read more
Morning Dealing Room Technical Report
August 31, 2015Market Comment Australia The S&P/ASX 200 index gained 0.58% or 30.235pts to 5263.56 (day range: 5305 – 5228.6) on Friday. The index is below its 20d MA (@ 5380) and below its 50d MA (@ 5503). 37% of the index constituents are above their 20D MA (vs 28% the previous… read more
