USD Tumbles on Weak Economic Data CURRENCY TRADING SUMMARY – 2nd July (00:30 GMT) U.S. Dollar Trading (USD) in a break with recent correlations the USD was sold off yesterday even as the stock markets came under heavy selling pressure at the start of US session. The movement was extreme… 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.
Australian FOREX Daily Outlook 01/07/2010
July 1, 2010Risk Taken Off the Table CURRENCY TRADING SUMMARY – 1st July (00:30 GMT) U.S. Dollar Trading (USD) stock markets continued to fall in the US session with the market unable to stage a sustained rally. June US ADP Employment report spooked the market at +13k vs. +60k forecast and helped… read more
Australian FOREX Daily Outlook 29/06/2010
June 29, 2010Mild Market Weakness in a Quiet Start to the Week CURRENCY TRADING SUMMARY – 29th June (00:30 GMT) U.S. Dollar Trading (USD) gained on the back of Euro weakness with traders still buying the Dollar for its safe haven status. May Core PCE increased 0.2% vs. 0.1% previously and Personal… read more
Australian FOREX Daily Outlook 28/06/2010
June 28, 2010Market Mood Improves into the Weekend CURRENCY TRADING SUMMARY – 28th June (00:30 GMT) U.S. Dollar Trading (USD) finished weaker across the board as stock markets recovered some of the week’s losses into the weekend. Weak US data did not help but was overlooked as buyers took control of the… read more
Australian FOREX Daily Outlook 24/06/2010
June 24, 2010US Interest Rates on Hold CURRENCY TRADING SUMMARY – 24th June (00:30 GMT) U.S. Dollar Trading (USD) in an eventful day of trading the USD finished on a weak footing after finding strength earlier in the day on safe haven demand. May Home Sales surprised to the downside at 300k… read more
Australian FOREX Daily Outlook 23/06/2010
June 23, 2010Stock Sell Off Prompts Dollar Rally CURRENCY TRADING SUMMARY – 23rd June (00:30 GMT) U.S. Dollar Trading (USD) sentiment turned negative as stocks in the US finished very weak and US existing Home Sales dropped to 5.66mn vs. 6.12mn forecast. The Euro led the risk currencies lower as concerns linger… read more
Australian FOREX Daily Outlook 22/06/2010
June 22, 2010China Rally Fades in the US Session CURRENCY TRADING SUMMARY – 22nd June (00:30 GMT) U.S. Dollar Trading (USD) the markets enthusiasm for the China story ran out of steam as officials in the US only gave a measured response. Profit taking turned to selling when the US stock markets… read more
Australian FOREX Daily Outlook 21/06/2010
June 21, 2010China Revaluation Talks Buoying markets CURRENCY TRADING SUMMARY – 21st June (00:30 GMT) U.S. Dollar Trading (USD) ended the week little loved with most pairs remaining at week highs against the greenback. With little data out, the markets turned to US Equities which finished at month highs. Risk appetite was… read more
Australian FOREX Daily Outlook 18/06/2010
June 18, 2010USD Slips, Strong demand for Spanish Bonds. CURRENCY TRADING SUMMARY – 18th June (00:30GMT) U.S. Dollar Trading (USD) lost considerable ground against a number of currencies as data disappointed on Thursday. The Philly Fed Manufacturing index was well below forecasts of 21.1 to read at 8.0. In other data news,… read more
Australian FOREX Daily Outlook 17/06/2010
June 17, 2010Markets Remain Near Highs in Quiet Trade CURRENCY TRADING SUMMARY – 17th June (00:30 GMT) U.S. Dollar Trading (USD) mixed data and the lack of major news to move the markets saw consolidation of the recent rally and range trading for most of the day. May Housing Starts sank to… read more
