US Jobs fall 240 000 in October CURRENCY TRADING SUMMARY – 10th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) had a mixed day with the strong uptrend put on hold by terrible unemployment data. October Non Farm Payrolls dropped -240K vs. -200k expected and the Unemployment rate jumped to 6.5%…. 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 07/11/2008
November 7, 2008Bank of English slashes Interest rates by 1.50% CURRENCY TRADING SUMMARY – 7th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) in another very volatile day on the markets the USD was helped to week highs against multiple currencies on both safe haven flows and falling commodity prices. The ECB, SNB… read more
Australian FOREX Daily Outlook 6/11/2008
November 6, 2008Post election slump, Obama fails to inspire stock market CURRENCY TRADING SUMMARY – 6th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) had a mixed day after initially gaining on the back of Barack Obama’s US Presidential win. The rally was short lived however as economic data weakened and US stocks… read more
Australian FOREX Daily Outlook 05/11/2008
November 5, 2008Australia cuts rates by 0.75%. US Election Rally CURRENCY TRADING SUMMARY – 5th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was sold against most currencies as risk appetite notched higher on another day of stock market gains. Stocks were buoyant all day as Americans voted for their next president. Factory… read more
Australian FOREX Daily Outlook 04/11/2008
November 4, 2008Australian Reserve Bank expected to cut. US Votes today CURRENCY TRADING SUMMARY – 4th November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) poor data out of the US was shrugged off as commodities weakened and markets focused on interest rates around the world. On the plus side the 3Month USD Libor… read more
Australian FOREX Daily Outlook 03/11/2008
November 3, 2008US GDP beats estimates, Recovery Continues CURRENCY TRADING SUMMARY – 3rd November 2008 (00:30GMT) ·U.S. Dollar Trading (USD) weakness in Asian stocks sent the USD to day highs as traders pared riskier trades going into the weekend. US stocks shrugged off the negative lead ending the week on a high… read more
Australian FOREX Daily Outlook 31/10/2008
October 31, 2008US GDP beats estimates, Recovery Continues CURRENCY TRADING SUMMARY – 31st October 2008 (00:30GMT) ·U.S. Dollar Trading (USD) backing up from a rate cut the markets breathed a collective sigh of relief when advanced Q3 GDP came in at -0.3% vs. -0.5%. After being sold heavily during the day the… read more
Australian FOREX Daily Outlook 30/10/2008
October 30, 2008Fed Cuts Interest Rates, USD Sold CURRENCY TRADING SUMMARY – 30th October 2008 (00:30GMT) ·U.S. Dollar Trading (USD) the Federal Reserve wrapped up its 2 day meeting with a statement that it was cutting rates to 1.0% from 1.5% and that the door was open for more cuts as the… read more
Australian FOREX Daily Outlook 29/10/2008
October 29, 2008Historic relief rally brings hope CURRENCY TRADING SUMMARY – 29th October 2008 (00:30GMT) ·U.S. Dollar Trading (USD) gave up gains against all except the yen as worlds stocks surged on bargain hunting. CB Consumer Confidence Plummeted but that was ignored as the rally that began in Asia spread to the… read more
Australian FOREX Daily Outlook 28/10/2008
October 28, 2008G7 warns market on YEN volatility CURRENCY TRADING SUMMARY – 28th October 2008 (00:30GMT) ·U.S. Dollar Trading (USD) continued to make strong gains as equity markets continued to be under pressure and safe haven flows supported the USD. US stocks recovered but fell steeply into the close. US data was… read more
