USD crumbles as Non Farm Sparks Euro rally CURRENCY TRADING SUMMARY – 11th May (00:30GMT) ·U.S. Dollar Trading (USD) finished the week at multi-month lows against the Euro as better than expected US Job Data allowed risk appetite to jump another notch higher. April Non-Farm Payrolls were down -539K vs…. 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 08/05/2009
May 8, 2009Europe Cuts Interest Rates CURRENCY TRADING SUMMARY – 8th May (00:30GMT) ·U.S. Dollar Trading (USD) came under pressure against riskier currencies as investors bought the Euro after milder than expected Quantitative easing measures from the ECB Thursday. Weekly Jobless Claims beat forecasts for the second week at 601K vs. 635K… read more
Australian FOREX Daily Outlook 07/05/2009
May 7, 2009Leaked Bank Stress Tests fuel Rally CURRENCY TRADING SUMMARY – 7th May (00:30GMT) ·U.S. Dollar Trading (USD) struggled as US employment numbers beat expectations and leaked stress test results helped confidence. ADP Employment Report for April came in at -491K vs. -650K forecast. US stocks rallied on improved confidence and… read more
Australian FOREX Daily Outlook 06/05/2009
May 6, 2009Bernanke Optimistic about Future CURRENCY TRADING SUMMARY – 6th May (00:30GMT) ·U.S. Dollar Trading (USD) was able to finish the US session on the front foot as large rallies in the Majors were wound back ahead of key economic data this week. April Non ISM Manufacturing jumped to 43.7 vs…. read more
Australian FOREX Daily Outlook 05/04/2009
May 5, 2009US stocks close at Year Highs CURRENCY TRADING SUMMARY – 5th May (00:30GMT) ·U.S. Dollar Trading (USD) Dollar strength was short lived as Global Stock markets charged ahead. Most Currencies made solid gains against the USD with commodities also making substantial gains. Pending Home Sales rose 3.2% vs. 0% forecast…. read more
Australian FOREX Daily Outlook 04/05/2009
May 4, 2009Positive end to the Week CURRENCY TRADING SUMMARY – 4th May (00:30GMT) ·U.S. Dollar Trading (USD) was once again at the mercy of the equity markets which managed to make small gains into the weekend and pressured the Dollar lower. ISM Manufacturing managed to jump to 40.1 in April vs…. read more
Australian FOREX Daily Outlook 01/05/2009
May 1, 2009Volatile trading near Year highs CURRENCY TRADING SUMMARY – 1st May (00:30GMT) ·U.S. Dollar Trading (USD) found itself under extreme pressure at the start of the European session after the Nikkei finished 4% higher. Profit taking from these levels and the Chrysler Bankruptcy help the Dollar to recover although the… read more
Australian FOREX Daily Outlook 30/04/2009
April 30, 2009US GDP Drops -6.1% in Q1 CURRENCY TRADING SUMMARY – 30th April (00:30GMT) ·U.S. Dollar Trading (USD) weakened substantially on the back of solid equity markets. Q1 GDP was worse than expected at -6.1% vs. -4.9% forecast. The FOMC also met and held rates at the 0-0.25% target range. Helping… read more
Australian FOREX Daily Outlook 29/04/2009
April 29, 2009US consumers lead rebound CURRENCY TRADING SUMMARY – 29th April (00:30GMT) ·U.S. Dollar Trading (USD) weakened in New York but only after testing fresh strength in Asia on swine flu fears. Fears the stress tests will require Citibank and Bank of America to raise more capital sent bank shares lower…. read more
Australian FOREX Daily Outlook 27/04/2009
April 27, 2009USD weakens on China news CURRENCY TRADING SUMMARY – 27th April (00:30GMT) ·U.S. Dollar Trading (USD) the direction was set in the Asian session with news from China about the diversification of FX reserves. Figures released show that gold holdings had increased to over 1000 tons. Also hurting dollar sentiment… read more
