EUR/USD Hits Year Lows CURRENCY TRADING SUMMARY – 2nd June (00:30 GMT) U.S. Dollar Trading (USD) Stock markets rallied aggressively in the US session after a poor lead from Europe on better than expected ISM manufacturing in May which fell to 59.7 vs. 60.4 previously. Also strong, April Construction spending… 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 01/06/2010
June 1, 2010Holiday Trading Keeps Market Quiet Monday CURRENCY TRADING SUMMARY – 1st June (00:30GMT) U.S. Dollar Trading (USD) was buoyed by month end buying of the USD but in general the market was very quiet with the US markets closed for Memorial day. The markets were quite thin and so small… read more
Australian FOREX Daily Outlook 31/05/2010
May 31, 2010Euro Falls on Spain Downgrade CURRENCY TRADING SUMMARY – 31st May (00:30GMT) U.S. Dollar Trading (USD) was under pressure until the Fitch Downgrade of Spain put downside pressure on stocks and and the Euro. Markets we less volatile however as the Holiday weekend in the US caused volumes to be… read more
Australian FOREX Daily Outlook 28/05/2010
May 28, 2010CURRENCY TRADING SUMMARY – 28th May (00:30GMT) U.S. Dollar Trading (USD) was on the back foot as risk aversion gave way to risk appetite when global stock markets rallied for 24 hours. Q1 GDP was at 3.0% slightly worse then 3.4% forecast but still strong. Weekly Jobless claims improved to… read more
Australian FOREX Daily Outlook 28/05/2010
May 27, 2010China Rethinking Euro Investments CURRENCY TRADING SUMMARY – 27th May (00:30GMT) U.S. Dollar Trading (USD) gained on renewed Euro selling after the relief rally in US stocks ran out of steam. Economic data was strong with April Durable Goods Orders +2.9% vs. -1.2% and April New Home Sales at 504k… read more
Australian FOREX Daily Outlook 26/05/2010
May 26, 2010Markets Stage Major Rebound CURRENCY TRADING SUMMARY – 26th May (00:30GMT) U.S. Dollar Trading (USD) was extremely volatile from the start with stocks falling aggressively in Asia and the Europe before the sentiment reversed aggressively for the final part of the day. CB Consumer Confidence jumped to 63 vs 57… read more
Australian FOREX Daily Outlook 25/05/2010
May 25, 2010Weak US Close Puts Bears Back in Control CURRENCY TRADING SUMMARY – 25th May (00:30GMT) U.S. Dollar Trading (USD) saw solid strength on the back of renewed Eurozone concerns and a very weak close in US stocks sparking safe haven demand. April Existing Home Sales jumped 7.6% to 5.77m vs…. read more
Australian FOREX Daily Outlook 24/05/2010
May 24, 2010Relief Rally on Friday CURRENCY TRADING SUMMARY – 24th May (00:30GMT) U.S. Dollar Trading (USD) pared back gains as US stock markets rebounded into the close on Friday allowing risk currencies to rally. With no economic data from the US the bounce was chalked up to rumors that Goldman Sachs… read more
Australian FOREX Daily Outlook 21/05/2010
May 21, 2010Stocks Crashing on European Worries CURRENCY TRADING SUMMARY – 21st May (00:30GMT) U.S. Dollar Trading (USD) was extremely volatile against all currencies as safe haven demand was countered by intervention talk to stem the speed of losses. Weekly Jobless Claims were overlooked but weak at 471k vs 440k forecast. Stock… read more
Australian FOREX Daily Outlook 20/05/2010
May 20, 2010Euro Short Covering Rally CURRENCY TRADING SUMMARY – 20th May (00:30GMT) U.S. Dollar Trading (USD) in a unique day of trading the Euro rallied aggressively across the market even as Risk was taken off the board. Rumors swept through the market that the ECB would make an announcement on the… read more
