Citigroup Bailout stirs another stock market rally CURRENCY TRADING SUMMARY – 25th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) weakened broadly as the market enjoyed a second day of good stock markets gains. News that Citigroup would be receiving a US20bn capital injection sent that stock up 60%. The Govt…. 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 24/11/2008
November 24, 2008Obama’s New Economic Plan Stokes Rally CURRENCY TRADING SUMMARY – 24th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was weakened by a reversal in market mood late on Friday as stocks across the world rallied and investor fears eased. The announcement of Tim Geithner was generally seen as positive by… read more
Australian FOREX Daily Outlook 21/11/2008
November 21, 2008US stocks extend slump, USD extends rally CURRENCY TRADING SUMMARY – 21st November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) strengthened on the back of rising risk aversion as stocks came under severe selling pressure. New 11 ½ year lows on the S& P were seen as concerns about the looming… read more
Australian FOREX Daily Outlook 20/11/2008
November 20, 2008FOMC Minutes show US rate cuts may continue CURRENCY TRADING SUMMARY – 20th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) rallied late in the day as US equities weakened considerable into the US close. 8000 was once again tested on the Dow and the market closed close to this level… read more
Australian FOREX Daily Outlook 18/11/2008
November 18, 2008Citibank to Cut 50 000 Jobs, Economic Worries Persist CURRENCY TRADING SUMMARY – 18th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was broadly weaker as most majors led by the Pound were able to rebound as US stocks initially rallied. Ongoing Economic concerns and fears of a deep recession lead… read more
Australian FOREX Daily Outlook 17/11/2008
November 17, 2008Weak US retail Sales Hurt Market Sentiment CURRENCY TRADING SUMMARY – 17th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was strong heading into the weekend as US stocks ended very weak on the back of slumping Retail Sales. October Retail Sales were worse than expected at -2.8% vs. -2.0%m/m. The… read more
Australian FOREX Daily Outlook 14/11/2008
November 14, 2008Late Dow Surge Reverse Mood and Direction CURRENCY TRADING SUMMARY – 14th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) USD gave up a lot the strength at the end of the US session as the Dow Jones rallied over 900 points off lows. Weekly Jobless claims rose above 500K to… read more
Australian FOREX Daily Outlook 13/11/2008
November 13, 2008Paulson changes Bailout Plan, Market Crashes CURRENCY TRADING SUMMARY – 13th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) gained heavily against the higher yielding currencies as US stocks spiraled lower for the third day as the Treasury announced changes to the $700 Billion Bailout plan. The modifications were to buy… read more
Australian FOREX Daily Outlook 12/11/2008
November 12, 2008Concerns over US consumers weigh on Stocks CURRENCY TRADING SUMMARY – 12th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) found strength in adversity gaining against most currencies on the back of increased risk aversion. Safe haven flows and deleveraging continued to offer strong short term support for the USD. News… read more
Australian FOREX Daily Outlook 11/11/2008
November 11, 2008GM fears overshadow China Stimulus Plan CURRENCY TRADING SUMMARY – 11th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) started the week extremely well offered as world markets absorbed news released over the weekend that China was implementing a US$585bn stimulus plan to help growth remain at elevated levels in the… read more
