No Presents for the Market this Christmas CURRENCY TRADING SUMMARY – 24th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) managed small gains again today as the market shrugged off bad economic data and year end demand favored the Dollar. US GDP was confirmed at -0.5% and University of Michigan Dec… 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 23/12/2008
December 23, 2008China cuts rates, Japan Away Today CURRENCY TRADING SUMMARY – 23rd December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) traded in a range against the majors but still managed to make small gains. Oil continued to fall but gold and copper gained on the news that China cut rates by 27bps…. read more
Australian FOREX Daily Outlook 22/12/2008
December 22, 2008USD finds strength into the weekend CURRENCY TRADING SUMMARY – 22nd December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was able to pare back weekly losses for the second day as the US Auto Industry was bailed out and commodities were under broad pressure led by Oil which settled below $34… read more
Australian FOREX Daily Outlook 19/12/2008
December 19, 2008Big Dollar Gains as Oil Crumbles CURRENCY TRADING SUMMARY – 19th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) staged a major comeback after being sold for 5 straight days, making solid gains against all majors. Stocks slumped on Auto concerns and Oil also slumped to $36 a barrel on slumping… read more
Australian FOREX Daily Outlook 18/12/2008
December 18, 2008USD Rout Continues CURRENCY TRADING SUMMARY – 18th December 2008 (00:30GMT) U.S. Dollar Trading (USD) the market was relentless in its punishment of the USD yesterday pushing past 1.4000 and not stopping until resistance at the 1.4425 level. As Selling accelerates many are now calling this reversal a new trend… read more
Australian FOREX Daily Outlook 17/12/2008
December 17, 2008New World Wednesday as US cuts rates to 0.25% CURRENCY TRADING SUMMARY – 17th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) the US Federal Reserve changed its monetary policy overnight slashing the Fed Funds rate by 0.75% to 0.25%. Also accompanying the release was a statement that confirmed the Fed… read more
Australian FOREX Daily Outlook 15/12/2008
December 15, 2008US Senate Blocks Auto Bailout shocks Market CURRENCY TRADING SUMMARY – 15th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) came under continued pressure as reports circulated in Asia that the US senate was not going to pass the Auto bailout. Asia stocks slumped on the news and the weakening USD… read more
Australian FOREX Daily Outlook 12/12/2008
December 12, 2008USD slides as demand dries up CURRENCY TRADING SUMMARY – 12th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) in a very important trading day, key levels against multiple currencies were broken as USD selling accelerated to near panic capitulation levels. US data didn’t help the situation with weekly Jobless claims… read more
Australian FOREX Daily Outlook 11/12/2008
December 11, 2008EURO lifted on strong Commodities CURRENCY TRADING SUMMARY – 11th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) lost ground against most of the majors as commodities rebounded and the market gained a hint of optimism. US October Whole Sale Inventories dropped 1.1% as lower petrol costs filtered through the economy…. read more
Australian FOREX Daily Outlook 10/12/2008
December 10, 2008Big Rate Cut from Canada, USD mixed CURRENCY TRADING SUMMARY – 10th December 2008 (00:30GMT) ·U.S. Dollar Trading (USD) had a mixed day gaining back some of the steep losses seen on Monday as US stocks slipped. US data beat expectations with October pending Home sales dropping -0.7% vs. -3.2%… read more
