Quiet data front. Oil continues pulling back despite tensions in the Gulf. CURRENCY TRADING SUMMARY –08 JANUARY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) in light of no economic data from the US, markets were relatively tame. Fed member Lockhart expressed concern about inflation but more so about slowness in the… 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 07/01/2008
January 7, 2008Non farm payrolls disappoint on the downside. Oil pulls back. US recession fears heightened. CURRENCY TRADING SUMMARY –07 JANUARY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) was weaker after US non-farm payrolls posted a rise of only 18,000 for the month of December which was the lowest result in almost five… read more
Australian FOREX Daily Outlook 04/01/2008
January 4, 2008Non Farm Payrolls key interest, XAU at fresh 28 year highs CURRENCY TRADING SUMMARY –04 JANUARY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) eased further on Thursday as investors increased speculation that the Federal Reserve will cut rates by a further half a percentage point this month to prevent a recession…. read more
Australian FOREX Daily Outlook 03/01/2008
January 3, 2008ISM Manufacturing contract as oil trades at $100 a barrel CURRENCY TRADING SUMMARY –03 JANUARY 2008 (00:30GMT) ·U.S. Dollar Trading (USD) tumbled against a number of majors extending its 2007 decline of 10% versus the Euro. Much of the moves were attributed to a poor release in ISM manufacturing for… read more
Australian FOREX Daily Outlook 31/12/2007
December 31, 2007U.S New Home Sales at 12 year low. Existing home sales out on New Years Eve. CURRENCY TRADING SUMMARY –31 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) remained pressured following conflicting data on Friday. Chicago PMI rebounded well for the month of December coming in at 56.6 above the forecasted… read more
Australian FOREX Daily Outlook 28/12/2007
December 28, 2007Pakistan Opposition Leader Bhutto Assassinated. Heavy data for Japan. CURRENCY TRADING SUMMARY –28 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was subject to an extremely volatile session, as political distress in Pakistan reached it’s pinnacle with the assassination of opposition leader Benazir Bhutto only days out from an election. In… read more
Australian FOREX Daily Outlook 27/12/2007
December 27, 2007BoJ minutes show concern of U.S. economic slowdown. Durable Good due out. CURRENCY TRADING SUMMARY –27 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased against a number of majors on concerns slumping retail sales and falling house prices will sustain bets on further Federal Reserve interest rate cuts next quarter…. read more
Australian FOREX Daily Outlook 24/12/2007
December 24, 2007Stable data out of the U.S. boosts dollar. Japanese Market Holiday CURRENCY TRADING SUMMARY –24 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) remained firm versus a number of majors on Friday as consumer spending in the U.S. rose more than forecasted for the month of November. Core PCE figures for… read more
Australian FOREX Daily Outlook 21/12/2007
December 21, 2007GBP continues to slide. BoJ unanimous in holding rates CURRENCY TRADING SUMMARY –21 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was range bound on Thursday, supported by sturdy GDP data, released above expectations at 4.9% fort the third quarter. In other news Core PCE was released at 2% (Forecast: 1.8%),… read more
Australian FOREX Daily Outlook 20/12/2007
December 20, 2007BoE minutes confirms a 9 – 0 vote. Focus on BoJ rate announcement. CURRENCY TRADING SUMMARY –20 DECEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) once again was choppy versus a number of other majors, trading on the back of other markets. In a data absent session, focus shifted to the… read more
