raises stamp duty on share trading causing market volatility. Current Account out EZ causes significant Euro strength, as Bank of Canada keep rates unchanged CURRENCY TRADING SUMMARY –30 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) slid against most majors before Consumer Confidence came in better than expectations. With markets forecasting… 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 29/05/2007
May 29, 2007Thin trading across the board as markets absent on holidays. Japan key data releases with Unemployment Rate, Household Spending and Retail Sales CURRENCY TRADING SUMMARY –29 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) was closed on Monday for Memorial Day. That being said, tight ranges were experienced across the board… read more
Australian FOREX Daily Outlook 28/05/2007
May 28, 2007US Existing Home Sales fails to support New Home Sales figure. Japanese CPI give an early indication for inflationary pressures. CURRENCY TRADING SUMMARY –28 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) remained relatively unchanged against a basket of currencies despite Existing Home Sales disappointing on the back of positive New… read more
Australian FOREX Daily Outlook 25/05/2007
May 25, 2007USD finds support as New Home Sales grew at its fastest rate in 14 years. Japanese CPI scheduled for release. CURRENCY TRADING SUMMARY –25 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) rebounded on Thursday as reports showed that US New Home Sales in April showed growth at its fastest rate… read more
Australian FOREX Daily Outlook 24/05/2007
May 24, 2007BoE hint at future rate hikes giving support to the GBP. Japanese Trade Balance and German IFO key ahead of US Durable Goods and Home Sales. CURRENCY TRADING SUMMARY –24 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) fell against a basket of majors as positive data from other markets weighed… read more
Australian FOREX Daily Outlook 23/05/2007
May 23, 2007USD continues to rebound as US-China two day meeting begins. German ZEW survey fails to support the Euro. CURRENCY TRADING SUMMARY –23 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) continued to rebound against a basket of currencies on Tuesday, rallying to a six-week high as traders continued to pare back… read more
Australian FOREX Daily Outlook 22/05/2007
May 22, 2007USD continues to rally as markets question Fed Reserve rate cut. German ZEW and Trade Balance key data out of Eurozone. CURRENCY TRADING SUMMARY –22 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) gained broadly against a basket of currencies as investors continued to square off short greenback bets, amid a… read more
Australian FOREX Daily Outlook 21/05/2007
May 21, 2007The Central Bank of China widens the Yuan-USD trading band supporting the JPY. UK Retail Sales disappoint causing sharp sell off in GBP. CURRENCY TRADING SUMMARY –21 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) was mixed on Friday as despite robust economic data released in the form of the Michigan… read more
Australian FOREX Daily Outlook 18/05/2007
May 18, 2007Buoyant U.S. data provides for a stronger dollar. Yields are given green light as BoJ keep rates unchanged. CURRENCY TRADING SUMMARY –18 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) advanced broadly having recently reached a 1 week low. The greenback received support from Philly Fed survey which indicated an unexpectedly… read more
Australian FOREX Daily Outlook 17/05/2007
May 17, 2007Sturdy House Prices and Industrial Production give support to USD rally. Heavy data day ahead for Japan, with GDP and BoJ rate announcement. CURRENCY TRADING SUMMARY –17 MAY 2007 (00:30GMT) U.S. Dollar Trading (USD) rallied broadly overnight having hit a one-week low against the Euro. With recent concerns of a… read more
