US Unemployment Rate moves above 8% CURRENCY TRADING SUMMARY – 9th March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) traded with the expected large range due to the Nonfarm Payroll release. The figure for February at -651K was at expectations but the Unemployment Rate surged to 8.1% the highest rate 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 06/03/2009
March 6, 2009ECB and BOE both Cut Rates CURRENCY TRADING SUMMARY – 6th March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) made solid gains against the most currencies as the china stimulus plan failed to eventuate and fresh stock weakness sent risk aversion soaring. Weekly Jobless Claims remained high at 639K vs. 679… read more
Australian FOREX Daily Outlook 05/03/2009
March 5, 2009China Stimulus Helps Market off lows CURRENCY TRADING SUMMARY – 5th March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) hit new multi-month highs in early Asia as Australia GDP surprised to the downside and the Euro broke through 1.25. The stock market then stabilized and actually started to gain as rumors… read more
Australian FOREX Daily Outlook 04/03/2009
March 4, 2009US Housing Data still weakening CURRENCY TRADING SUMMARY – 4th March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) weakened in Asia as traders covered shorts and stocks rallied off lows. The losses proved short lived though as US economic data continued to surprise to the downside. January Pending Home Sales fell… read more
Australian FOREX Daily Outlook 03/03/2009
March 3, 2009Global Stock Rout Continues CURRENCY TRADING SUMMARY – 3rd March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) continued to find strength in adversity as investors flooded into the safe have with fresh 12 year lows in US stocks. The Dow broke 7000 and fell sharply to 6800. ISM Manufacturing gained slightly… read more
Australian FOREX Daily Outlook 02/03/2009
March 2, 2009US GDP SINKING CURRENCY TRADING SUMMARY – 2nd March 2009 (00:30GMT) ·U.S. Dollar Trading (USD) Gained against most currencies as the dollar became the last refuge for investors with global stocks finishing the week very weak. Also hurting sentiment was the largest revision on record for US Q4 GDP at… read more
Australian FOREX Daily Outlook 27/02/2009
February 27, 2009UK moves to support large banks CURRENCY TRADING SUMMARY – 27th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) remained relatively unchanged against the majors with the market searching for direction. USD/JPY moves are creating a distortion in the market with risk aversion as a theme failing to impact as it… read more
Australian FOREX Daily Outlook 26/02/2009
February 26, 2009US housing numbers continue to Slide CURRENCY TRADING SUMMARY – 26th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) strengthened across the board with the market scaling back risky trades as US stocks fell and Housing data was extremely weak. January Existing Home Sales fell -5.3% vs. a milder -1% drop… read more
Australian FOREX Daily Outlook 25/02/2009
February 25, 2009Equities Rebound after 6 days of losses CURRENCY TRADING SUMMARY – 25th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) gave up some strength as traders took profits and risk appetite surged on Yen weakness and the largest stock rally in a month. Bernanke put a dampener on speculation US banks… read more
Australian FOREX Daily Outlook 24/02/2009
February 24, 2009Stocks Continue to Plumb New Lows CURRENCY TRADING SUMMARY – 24th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) was sold broadly in Asia and early Europe as the Citigroup/ US government investment story took hold and stocks reversed losses. The rally proved short-lived with US equities reversing early gains and… read more
