Euro Struggling to stay Afloat CURRENCY TRADING SUMMARY – 4th May (00:30GMT) U.S. Dollar Trading (USD) was very well supported as the Euro’s gains were unwound and USD/JPY pushed higher to resistance just under Y95 on strong US economic data. April ISM Manufacturing jumped to 60.4 vs. 59.6 previously. March… 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 03/05/2010
May 3, 2010Greece Aid Expansion CURRENCY TRADING SUMMARY – 3rd May (00:30GMT) U.S. Dollar Trading (USD) had a very mixed day of trading as the Euro rallied on hopes that a bigger bailout was on the cards whilst most other currencies were lower against the greenback on risk aversion. Stock markets fell… read more
Australian FOREX Daily Outlook 23/04/2010
April 23, 2010Greece Situation Deteriorates CURRENCY TRADING SUMMARY – 23rd April (00:30GMT) U.S. Dollar Trading (USD) was stronger across the board as the the biggest currency pair in the world in the EUR/USD slumped to fresh year lows as the Turmoil in Greece intensified. Weekly Jobless Claims improved to 456k vs. 480k… read more
Australian FOREX Daily Outlook 21/04/2010
April 21, 2010Canadian Dollar gets boost from Bank of Canada CURRENCY TRADING SUMMARY – 21st April (00:30GMT) U.S. Dollar Trading (USD) was mixed gaining against the two biggest currencies in the Euro and Yen but lost ground against nearly all others as the market remained in ‘risk on’ mood. The big move… read more
Australian FOREX Daily Outlook 20/04/2010
April 20, 2010US Stocks lead Rebound CURRENCY TRADING SUMMARY – 20th April (00:30GMT) U.S. Dollar Trading (USD) started the week in the same fashion as Friday with risk aversion and Safe haven buying help the USD against all majors except the Yen. The situation changed at the beginning of the US session… read more
Australian FOREX Daily Outlook 19/04/2010
April 19, 2010Goldman Sachs Fraud Charge Sinks Market CURRENCY TRADING SUMMARY – 19th April (00:30GMT) U.S. Dollar Trading (USD) was stronger against most currencies as risk aversion swept through the markets on the back of the SEC charging Goldman Sash with Fraud in relation to the marketing of CDO products. March Housing… read more
Australian FOREX Daily Outlook 16/04/2010
April 16, 2010Greece and Portugal Debt Pressure Euro CURRENCY TRADING SUMMARY – 16th April (00:30GMT) U.S. Dollar Trading (USD) was able to make solid gains even as stock markets rallied, strong on the back of renewed Euro concerns. US data was mixed with Weekly Jobless Claims jumping to 480k vs. 460k previously,… read more
Australian FOREX Daily Outlook 15/04/2010
April 15, 2010US Retail Sales Rebound CURRENCY TRADING SUMMARY – 15th April (00:30GMT) U.S. Dollar Trading (USD) was unable to gain on the back of strong March Retail Sales as Fed Chief Bernanke remained dovish in his testimony to congress. March Retail Sales jumped 1.6% vs. 1.1% forecast. Bernanke repeated the ‘extended… read more
Australian FOREX Daily Outlook 14/04/2010
April 14, 2010Yen Under Pressure CURRENCY TRADING SUMMARY – 14th April (00:30GMT) U.S. Dollar Trading (USD) found strength in mild risk aversion during the Asian session but strong US stocks and an upbeat Greece Debt Auction saw the dollar on the back foot in the European/US sessions. February Trade Balance widened to… read more
Australian FOREX Daily Outlook 13/04/2010
April 13, 2010Euro struggling to hold gains CURRENCY TRADING SUMMARY – 13th April (00:30GMT) U.S. Dollar Trading (USD) the dollar opened Monday extremely weak but spent the rest of the day gaining as traders first took profit and then bought the Dollar especially against the commodities. Stocks were roughly flat as the… read more
