US Consumer Confidence Crashes CURRENCY TRADING SUMMARY – 24th February (00:30GMT) U.S. Dollar Trading (USD) gained on safe haven flows as risk aversion spiked higher in the US on very weak US Consumer Confidence falling to 46 in February from 56 previously. The souring of sentiment had already begun in… 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 23/02/2010
February 23, 2010Sideways Trading at the start the week CURRENCY TRADING SUMMARY – 23rd February (00:30GMT) U.S. Dollar Trading (USD) with no economic data out the market suffered from a lack of direction and kept to tight ranges on most pairs. Fed member Yellen was dovish as she reiterated her assessment of… read more
Australian FOREX Daily Outlook 22/02/2010
February 22, 2010Stocks Continue Rally, USD weakens CURRENCY TRADING SUMMARY – 22nd February (00:30GMT) U.S. Dollar Trading (USD) the stock sell off from the FED Discount rate Hike was short lived with US traders taking the central bank move as a positive for markets by inferring the banks no longer need as… read more
Australian FOREX Daily Outlook 19/02/2010
February 19, 2010US FED hikes Discount rate to 0.75% CURRENCY TRADING SUMMARY – 19th February (00:30GMT) U.S. Dollar Trading (USD) was on the back foot as stock rallied in Europe and in the US before reversing after the New York close on an unexpected discount rate rise by the FED. The discount… read more
Australian FOREX Daily Outlook 18/02/2010
February 18, 2010USD gains on Hawkish FED CURRENCY TRADING SUMMARY – 18th February (00:30GMT) U.S. Dollar Trading (USD) seized upon comments in the FOMC minutes that the FED should begin Asset Sales soon to drain some liquidity from the market. Some focus was again seen on Koenig’s dissent about the language of… read more
Australian FOREX Daily Outlook 17/02/2010
February 17, 2010Major Relief Rally led by Banks CURRENCY TRADING SUMMARY – 17th February (00:30GMT) U.S. Dollar Trading (USD) weakened as risk appetite picked up on strong stocks and commodities. Helping sentiment was the large jump in the NY FED Empire State index to 24 vs. 16. Also strong, NAHB Fed Housing… read more
Australian FOREX Daily Outlook 16/02/2010
February 16, 2010Gold Breaks Above $1100 CURRENCY TRADING SUMMARY – 16th February (00:30GMT) U.S. Dollar Trading (USD) was little changed in a quiet day of trading keeping to tight ranges against most currencies. US was on Holiday for President’s Day and China was also away for the New Year celebrations. Looking ahead,… read more
Australian FOREX Daily Outlook 15/02/2010
February 15, 2010China hikes banks reserve ratio by 0.5% CURRENCY TRADING SUMMARY – 15th February (00:30GMT) U.S. Dollar Trading (USD) experienced waves of strength but ended on a weak note as US stocks rebounded off lows into the weekend. Helping the Dollar to strengthen in Europe was news that China had lifted… read more
Australian FOREX Daily Outlook 12/02/2010
February 12, 2010EU fails to help EURO CURRENCY TRADING SUMMARY – 12th February (00:30GMT) U.S. Dollar Trading (USD) with ‘risk on’ the dollar was under pressure across the board with the notable exception of the Euro. Helping sentiment improve and stocks rally was Weekly Jobless Claims at 440k vs. 483k. In US… read more
Australian FOREX Daily Outlook 11/02/2010
February 11, 2010Bernanke Fed Chairman Talks Exit Strategy CURRENCY TRADING SUMMARY – 11th February (00:30GMT) U.S. Dollar Trading (USD) was on the backfoot as Eurozone bailout talks supported the Euro before reversing direction in the US session as Fed Chairman Bernanke outlined possible beginnings of an exit strategy. December Trade Balance fell… read more
