FOMC minutes confirms a “close call” and a projected slow down in economic growth for 2008 CURRENCY TRADING SUMMARY –21 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased against a basket of majors and traded at a record low versus the Euro and Swiss Franc on concerns that ongoing credit… 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 20/11/2007
November 20, 2007Stock prices fall ask credit woes continue. FOMC minutes set for release. CURRENCY TRADING SUMMARY –20 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) rebounded on Monday as drops in stock prices prevented traders from entering into risky carry trades, once again relieving the USD of its pressure against a number… read more
Australian FOREX Daily Outlook 19/11/2007
November 19, 2007USD weaker as Fed warns on future rate cuts. Rebounding stocks reignite carries. CURRENCY TRADING SUMMARY –19 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was volatile once again on Friday triggered by comments made from the Central bank. Federal Reserve Governor Kroszner warned markets that policy makers may not look… read more
Australian FOREX Daily Outlook 16/11/2007
November 16, 2007UAE to end 30 year peg with Dollar. UK Retail Sales spur talks of rate cuts. CURRENCY TRADING SUMMARY –16 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was choppy on Thursday as risk aversion was prominent in a number of markets. Ongoing write downs from large financial institutions spurred market… read more
Australian FOREX Daily Outlook 15/11/2007
November 15, 2007Rebounding global stocks boost appeal for carry trade. BoE poised to cut rates in 2008 CURRENCY TRADING SUMMARY –15 NOVEMBER 2007 (00:30GMT) U.S. Dollar Trading (USD) eased against a basket of majors despite sturdy Retail Sales data out of the U.S for the month of October. Retail sales in the… read more
Australian FOREX Daily Outlook 14/11/2007
November 14, 2007Rebounding stock prices prompt traders to re-enter carry trades. BoJ keep rates on hold. CURRENCY TRADING SUMMARY –14 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased capping its two previous session of rallies against a basket of majors. Reports circulated that the U.A.E may look to offload the Dirham’s peg… read more
Australian FOREX Daily Outlook 13/11/2007
November 13, 2007Volatility in markets as credit market woes grow. Japanese Yen key contributor. CURRENCY TRADING SUMMARY –13 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) continued its previous session gain as ongoing credit related losses triggered further risk aversion within the market. Despite recent speculation on rate cuts out of the Federal… read more
Australian FOREX Daily Outlook 12/11/2007
November 12, 2007Barclays causes market jitters by suspending trading. High yielder’s tumble on a plunge in stock prices. CURRENCY TRADING SUMMARY –12 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) rallied to end the week as risk aversion aided the dollar in relieving much of its pressure against a basket of majors. Federal… read more
Australian FOREX Daily Outlook 09/11/2007
November 9, 2007Bernanke foresees U.S. economy slowing noticeably. BoE and ECB hold on rates. CURRENCY TRADING SUMMARY –09 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was choppy throughout the day, as a follow through of risk aversion was prominent in the early part of the Asian session, relieving the USD of much… read more
Australian FOREX Daily Outlook 08/11/2007
November 8, 2007China to diversify its foreign reserves as stock prices drop CURRENCY TRADING SUMMARY –08 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased once again across the board before being relieved as sell off in global stock caused risk aversion to take its course. Many of the moves came during the… read more
