RBA increase interest rates by 25 basis points. CURRENCY TRADING SUMMARY –07 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) continued on its slide on growing expectations that fall outs from the US sub prime markets will extend financial losses prompting the Federal Reserve to cut rates further. Much of 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 06/11/2007
November 6, 2007Write downs weigh on stock prices. RBA rate announcement nearing. CURRENCY TRADING SUMMARY –06 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) was mixed against a basket of majors with currency strategists suggesting that the USD may fall to as low as 1.50 against the Euro by the year end. In… read more
Australian FOREX Daily Outlook 05/11/2007
November 5, 2007Non Farm Payrolls provides temporary relief on the dollar as markets forecast further Fed rate cuts. CURRENCY TRADING SUMMARY –05 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased on Friday despite a mid session rally. Mid way through the New York session the Dollar was boosted by a positive Payrolls… read more
Australian FOREX Daily Outlook 02/11/2007
November 2, 2007Stock prices plunge causing risk aversion. High Yielder’s head lower. CURRENCY TRADING SUMMARY –02 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) rebounded against a number of currencies as investors took a risk aversion approach to the market. A sharp plunge in stock prices prompted investors to unwind risky trades on… read more
Australian FOREX Daily Outlook 01/11/2007
November 1, 2007Federal Reserve cuts rates by 25 basis points, buying time for further movements. CURRENCY TRADING SUMMARY –01 NOVEMBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) tumbled against a number of majors as the Federal Reserve moved to cut interest rates by a further 25 basis points to 4.5%, as speculation mounted… read more
Australian FOREX Daily Outlook 31/10/2007
October 31, 2007BoJ rate announcement a supporting act to FOMC CURRENCY TRADING SUMMARY – 31 OCTOBER 2007 (00:30GMT) U.S. Dollar Trading (USD) was mixed against a number of majors on Tuesday following reports which showed U.S. consumer confidence fell to its lowest level in two years. With markets having forecasted a figure… read more
Australian FOREX Daily Outlook 30/10/2007
October 30, 2007EURO at record high, AUD at 23 high, as FOMC rate announcement looms. CURRENCY TRADING SUMMARY –30 OCTOBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) fell further against a number of majors as the much anticipated October 31 Fed meeting grows nearer. Relief was seen on the dollar however as speculation… read more
Australian FOREX Daily Outlook 29/10/2007
October 29, 2007Euro and Crude trade at record highs. AUD trades above 92 cents CURRENCY TRADING SUMMARY –29 OCTOBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased further to end the week as markets pre-empt another rate cut from the Federal Reserve on October 31st. Poor data out of the U.S. gave support… read more
Australian FOREX Daily Outlook 26/10/2007
October 26, 2007Japanese Economy remains in deflation, as commodities surge. AUD breaks 91 cents. CURRENCY TRADING SUMMARY –26 OCTOBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) fell for a third consecutive session on Thursday weighed upon by poor data out of the U.S. Durable goods for the month of September failed to provide… read more
Australian FOREX Daily Outlook 25/10/2007
October 25, 2007US Housing Sector continues to slump. Markets await Japanese CPI data. CURRENCY TRADING SUMMARY –25 OCTOBER 2007 (00:30GMT) ·U.S. Dollar Trading (USD) eased against a basket of currencies on persisting bearish sentiment on the dollar. In data news, US existing home sales failed to give any indication that the worst… read more
