USD REVERSES EARLY DIRECTION TO GAIN ON BAILOUT NEWS CURRENCY TRADING SUMMARY – 9th September 2008 (00:30GMT) ·U.S. Dollar Trading (USD) after being sold off initially in the Asian session the USD reversed direction in the European and US sessions as the Government Bailout of Fannie Mae and Freddie Mac… 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 08/09/2008
September 8, 2008US GOVERNMENT BAILS OUT FREDDIE AND FANNIE CURRENCY TRADING SUMMARY – 8th September 2008 (00:30GMT) ·U.S. Dollar Trading (USD) August Non-farm Payrolls came in worse than expected at -84K vs. -75K forecast. The Market reacted to the actual August Unemployment rate though which gapped to 6.1% vs. 5.7% previous. Trading… read more
Australian FOREX Daily Outlook 05/09/2008
September 5, 2008Stocks Crash, Carry trades Unwind, EURO pummeled. CURRENCY TRADING SUMMARY – 5thSeptember 2008 (00:30GMT) ·U.S. Dollar Trading (USD) weak jobs data highlighted the weakness of the US economy and preceded a sharp sell off in US stocks. Other US economic data was slightly higher than expected with Non-Manufacturing ISM for… read more
Australian FOREX Daily Outlook 04/09/2008
September 4, 2008Dollar surges again before taking breath ahead of ECB, BOE CURRENCY TRADING SUMMARY – 4th September 2008 (00:30GMT) ·U.S. Dollar Trading (USD) traded higher as commodities took another belting before paring its gains. US equities were mixed as cheaper oil was offset by economic downturn fears. US economic data was… read more
Australian FOREX Daily Outlook 03/09/2008
September 3, 2008Oil breaks $110 a barrel, Dollar Surges CURRENCY TRADING SUMMARY – 3rdSeptember 2008 (00:30GMT) ·U.S. Dollar Trading (USD) made significant gains as Oil dropped below $110 a barrel, especially against the commodity Bloc currencies. US August ISM Manufacturing came in near expectations at 49.9 vs. 50 previously. Oil driven stock… read more
Australian FOREX Daily Outlook 02/09/2008
September 2, 2008Oil drops heavily as Gustav fears fade CURRENCY TRADING SUMMARY – 2ndSeptember 2008 (00:30GMT) ·U.S. Dollar Trading (USD) Public Holiday, big moves on Oil as Hurricane Gustav fails to make impact helped the dollar to make gains. Looking Ahead, Aug ISM expected to fall slightly to 49.7 vs. 50.0 previously…. read more
Australian FOREX Daily Outlook 01/09/2008
September 1, 2008Stocks drop as market awaits Gustav CURRENCY TRADING SUMMARY – 1st September 2008 (00:30GMT) ·U.S. Dollar Trading (USD) under pressure most of the trading day as Oil rose on Gustav fears. Strong US data allowed the Dollar to reverse losses into the weekend helped as Oil pared gains. Chicago PMI… read more
Australian FOREX Daily Outlook 27/08/2008
August 27, 2008German IFO pummels Euro, Boosts Dollar CURRENCY TRADING SUMMARY – 27thAugust 2008 (00:30GMT) ·U.S. Dollar Trading (USD) gained again during the Asian session this time lead by the Antipodean currencies AUD and NZD. Weak EU data allowed new multimonth highs against most currencies except the Yen which outperformed as banking… read more
Australian FOREX Daily Outlook 26/08/2008
August 26, 2008When UK’s away, Pound comes out to play CURRENCY TRADING SUMMARY – 26thAugust 2008 (00:30GMT) ·U.S. Dollar Trading (USD) received a major boost through a sizable cable sell off during the Asian session dragging down all the majors against the greenback. Sentiment slowly reversed during the remainder of the day… read more
Australian FOREX Daily Outlook 22/08/2008
August 22, 2008Oil surges back to life, Dollar under Pressure CURRENCY TRADING SUMMARY – 22nd August 2008 (00:30GMT) ·U.S. Dollar Trading (USD) Economic data and Equities took a backseat to the Oil show yesterday. Geopolitical Concerns stemming from Russia/US sabre rattling sent Oil through the roof up over $6 a barrel at… read more
