Stronger US Housing Data offset by surging oil hitting stocks and Dollar CURRENCY TRADING SUMMARY – 26th MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) finished the week a little stronger after US existing home sales data came in at 4.89 million vs. 4.86 million expected. These gains were balanced earlier… 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 23/05/2008
May 23, 2008Dollar rebounds on stronger Unemployment Claims, profit taking in Oil CURRENCY TRADING SUMMARY – 23rd MAY 2008 (00:30GMT) · U.S. Dollar Trading (USD) was given some relief yesterday after Initial Jobless Claims came in 9K lower then expected at 365K. US home prices fell 0.4 pct in March, after gaining… read more
Australian FOREX Daily Outlook 22/05/2008
May 22, 2008Better then expected German IFO survey sinks US Dollar, Commodities Surge CURRENCY TRADING SUMMARY – 22nd MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) The FOMC minutes out today from the April 29-30 meeting pointed to weakening growth and higher unemployment in the US economy for 2008. Also noted several policy… read more
Australian FOREX Daily Outlook 21/05/2008
May 21, 2008Inflation the focus with Oil near $130 CURRENCY TRADING SUMMARY – 21st MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) The low headline figure of the April US PPI 0.2% vs 0.4% hurt the USD as focus on inflation in other economies took focus and US bond yields fell. The core… read more
Australian FOREX Daily Outlook 20/05/2008
May 20, 2008USD strength ahead of big data day in the US and Europe CURRENCY TRADING SUMMARY – 20th MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) The dollar was generally bid today on the back of an unexpected rise in the leading indicators report of 0.1 vs 0.0 expected. The U.S share… read more
Australian FOREX Daily Outlook 19/05/2008
May 19, 2008consumer confidence falls to 28 year low 59.5 XAU back above $900 CURRENCY TRADING SUMMARY – 19th MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) The dollar fell across the board as US confidence fell to a multi-decade low reading of 59.5 (62 expected) in May down from 62.6 in April… read more
Australian FOREX Daily Outlook 16/05/2008
May 16, 2008Growth in Europe rises by 0.7%, XAU rebounds by $20 CURRENCY TRADING SUMMARY – 16 MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was mixed once again versus a number of majors as Fed Reserve Chairman Bernanke encouraged banks to continue raising capital post credit turmoil, in order to minimize further… read more
Australian FOREX Daily Outlook 15/05/2008
May 15, 2008US CPI fails to amuse, Euro-zone CPI figures released on Thursday CURRENCY TRADING SUMMARY – 15 MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was mixed versus a number of majors as inflation reports for the month of April were below expectations, coming in at 0.2%/3.9% (Forecast: 0.3%/4.0%). Furthermore the Chicago… read more
Australian FOREX Daily Outlook 14/05/2008
May 14, 2008GBP surge short lived on the back of CPI figures, Oil sets new record highs CURRENCY TRADING SUMMARY – 14 MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was extremely volatile against all majors on Tuesday as Fed officials, notably Cleveland member Pianalto cited inflationary risks. However Chairman Bernanke did note… read more
Australian FOREX Daily Outlook 13/05/2008
May 13, 2008GBP rallies on the back of sturdy PPI, ahead of Retail Sales and CPI figures today CURRENCY TRADING SUMMARY – 13 MAY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was mixed against the majors on Monday, losing ground on the majority bar the Japanese Yen. In Fiscal policy, the US Government… read more
