Gold trades above $1000 an ounce CURRENCY TRADING SUMMARY – 23rd February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) had a very volatile day with rumors of imminent nationalization of large US banks sending US stocks to a new year low. Reports also surfaced that US Quantitative easing would begin as… 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 20/02/2009
February 20, 2009Yen plays havoc with the currency market CURRENCY TRADING SUMMARY – 20th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) gave up a lot of strength during the Asian and European session as profit taking set in and stocks rallied. Some of the losses were given back though as US stocks… read more
Australian FOREX Daily Outlook 19/02/2009
February 19, 2009Global Stocks Remain Under Pressure CURRENCY TRADING SUMMARY – 19th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) maintained strength as risk aversion remained high and Economic data continued to weaken. January Industrial Output dropped -1.8% vs. -1.5%. Also released the FOMC minutes which downgraded the 2009 GDP growth forecast to… read more
Australian FOREX Daily Outlook 18/02/2009
February 18, 2009Global Stocks Remain Under Pressure CURRENCY TRADING SUMMARY – 18th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) took the centre stage making strong gains as Global risk aversion notched higher. Concerns about Auto makers and Eastern European Banks were the main drivers of fear. February NY FEB Manufacturing dropped more… read more
Australian FOREX Daily Outlook 17/02/2009
February 17, 2009Japan’s Recession deepens CURRENCY TRADING SUMMARY – 17th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) had very quiet trading day with the US away for Presidents day. Risk aversion in Asia and Europe kept the Dollar well supported but the market is awaiting Obama’s speech on Wednesday in which he… read more
Australian FOREX Daily Outlook 16/02/2009
February 16, 2009US House passes 2nd Stimulus bill CURRENCY TRADING SUMMARY – 16th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) had a mixed day with the market initially selling the dollar in Asia before weak European Data and sluggish US stocks let the reserve currency pare back losses ahead of the G7… read more
Australian FOREX Daily Outlook 13/02/2009
February 13, 2009Wild trading on Stockmarket Rollercoaster CURRENCY TRADING SUMMARY – 13th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) strengthened on safe haven flows during Asia and Europe as equities tumbled. The situation was reversed in the last hour of trading in New York as rumors spread of a new mortgage rescue… read more
Australian FOREX Daily Outlook 12/02/2009
February 12, 2009Markets stabilize after Tuesday’s sell off CURRENCY TRADING SUMMARY – 12th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) the market kept to a tight range with some profit taking leaving the USD relatively unchanged against most of the majors. December Trade Balance improved to -39.9bn vs. -41.6bn previously. Late in… read more
Australian FOREX Daily Outlook 11/02/2009
February 11, 2009Treasury Secretary disappoints markets CURRENCY TRADING SUMMARY – 11th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) the mood darkened considerably yesterday as the much anticipated speech from Geithner failed to deliver and what started as profit taking turned into a rout. Banking stocks were under pressure as Geithner lacked clarity… read more
Australian FOREX Daily Outlook 10/02/2009
February 10, 2009Markets await US Treasury Secretary CURRENCY TRADING SUMMARY – 10th February 2009 (00:30GMT) ·U.S. Dollar Trading (USD) profit taking in Asia saw all the majors fall lower and the USD strengthen going into Europe. Stocks stabilized in the US session letting most pairs return to starting levels. The US Senate… read more
