China Moves to stem Overheating CURRENCY TRADING SUMMARY –13th January (00:30GMT) U.S. Dollar Trading (USD) gained in Asia and then again in Europe on two stories of note from China. Firstly Peng of China’s sovereign wealth fund stated he saw the USD near it’s bottom and then secondly the PBOC… 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 12/01/2010
January 12, 2010December Dollar Gains Wound-back CURRENCY TRADING SUMMARY –12th January (00:30GMT) U.S. Dollar Trading (USD) the weak Dollar tone from Friday continued into the new week with Gold surging at the open and EUR/USD breaking above the key 1.4500 level. US stocks made fresh 2010 highs on the back of the… read more
Australian FOREX Daily Outlook 11/01/2010
January 11, 2010Weak US Jobs hurt Dollar CURRENCY TRADING SUMMARY –11th January (00:30GMT) U.S. Dollar Trading (USD) weakened considerably across the board as December US jobs numbers missed forecasts. December Non Farms at -85k were expected at 0k. December Unemployment Rate remained at 10.0%. Adding to the USD weakness was the relative… read more
Australian FOREX Daily Outlook 08/01/2010
January 8, 2010Dollar Stabilizes ahead of Key Jobs Data CURRENCY TRADING SUMMARY – 8th January (00:30GMT) U.S. Dollar Trading (USD) found strength as traders took profit on the recent commodity rally and US data showed continued jobs improvement. Weekly Jobless Claims at 434k vs. 447k previously. DJIA +33 points closing at 10606,… read more
Australian FOREX Daily Outlook 07/01/2010
January 7, 2010Oil and Gold Rally CURRENCY TRADING SUMMARY – 7th January (00:30GMT) U.S. Dollar Trading (USD) was on the back foot as commodities rallied and risk appetite remained strong. US data was slightly worse than expected with December Services ISM at 50.1 vs. 50.5 previously and ADP December National Employment at… read more
Australian FOREX Daily Outlook 06/01/2010
January 6, 2010US Pending Homes Sales Slump CURRENCY TRADING SUMMARY – 6th January (00:30GMT) U.S. Dollar Trading (USD) was stronger against almost all currencies except the Yen as weak housing data tempered the risk appetite of the market. November Pending Home Sales -16% vs. -2% m/m forecast. November Factory Orders at 1.1%… read more
Australian FOREX Daily Outlook 05/01/2010
January 5, 2010‘Risk On’ for First day of the New Year CURRENCY TRADING SUMMARY – 5th January (00:30GMT) U.S. Dollar Trading (USD) lost ground against most currencies as the market relapsed into Strong stocks/Weak Dollar mode again on the first day of trading in 2010. December ISM Manufacturing jumped to 55.9 vs…. read more
Australian FOREX Daily Outlook 04/01/2010
January 4, 2010Pound Soars into the New Year CURRENCY TRADING SUMMARY –4th January (00:30GMT) U.S. Dollar Trading (USD) was volatile gaining against most pairs in the US session as Weekly Jobless claims continued to improve, leading to speculation that December Non Farm Payrolls could be positive. US stocks finished lower on profit… read more
Australian FOREX Daily Outlook 31/12/2009
December 31, 2009Pound Soars into the New Year CURRENCY TRADING SUMMARY – 31st December (00:30GMT) U.S. Dollar Trading (USD) had an interesting trading day as strength remained but only against certain currencies. Underpinning the USD was December Chicago PMI jumping to 60.0 vs. 56.1 previously. DJIA +3 points closing at 10548, S&… read more
Australian FOREX Daily Outlook 30/12/2009
December 30, 2009Dollar Buyers Return CURRENCY TRADING SUMMARY – 30th December (00:30GMT) U.S. Dollar Trading (USD) initial Dollar weakness during the European session was reversed aggressively in the US session as Dollar buyers returned in force. Stocks remained buoyant globally and this helped risk currencies such as the AUD outperform. December CB… read more
