Strong US ISM Manufacturing gives initial support to the dollar, as GBP remains steady following weaker PMI manufacturing data. RBA keep interest rates unchanged at 6.25% CURRENCY TRADING SUMMARY –02 MAY 07 (23:30GMT) U.S. Dollar Trading (USD) rallied as reports showed that manufacturing in the US had grown at its… 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 01/05/2007
May 1, 2007USD rallies before poor data hinders its gains. Manufacturing ISM key data release as RBA begin their two day meeting. CURRENCY TRADING SUMMARY –01 MAY 07 (23:30GMT) U.S. Dollar Trading (USD) saw the greenback end the month of April battered, with the dollar index falling by 1.9% for the month,… read more
Australian FOREX Daily Outlook 30/04/2007
April 30, 2007EURUSD reaches record high of 1.3683 as poor US GDP highlights slowing growth. CPI released out of Eurozone. CURRENCY TRADING SUMMARY –30 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) slumped against a basket of majors before rebounding late in the session subject to technical trading. Initial losses experienced by the… read more
Australian FOREX Daily Outlook 27/04/2007
April 27, 2007The US dollar show signs of strength across the board, as all markets focus switches to Japanese data including BoJ rate announcement. US to release GDP today. CURRENCY TRADING SUMMARY –27 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) rallied across the board despite sentiment remaining negative on the US economy… read more
Australian FOREX Daily Outlook 26/04/2007
April 26, 2007Record highs in equity markets provide does little for USD as further indications of slowing US economy in the shape of New Home Sales. RBNZ hike rates to 7.75% CURRENCY TRADING SUMMARY –26 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) slid during yesterdays trading as weaker than expected New Home… read more
Australian FOREX Daily Outlook 25/04/2007
April 25, 2007Poor Aussie CPI places questions marks over RBA rate hike. UK set to release GDP data, whilst Japan release Trade Balance CURRENCY TRADING SUMMARY –25 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) having shown previous day gains against most majors, the dollar fell on Tuesday to a 2 year low… read more
Australian FOREX Daily Outlook 24/04/2007
April 24, 2007USD continues to show signs of recovery. Poor Aussie PPI does little to move the currency ahead of key CPI release. CURRENCY TRADING SUMMARY –24 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) gained across the board yesterday in a relatively minimal data day to show some slight recovery from last… read more
Australian FOREX Daily Outlook 23/04/2007
April 23, 2007US Dow Jones reaches record high giving support to the USD. Weak UK retail sales figure causes a slight sell off in the GBP before regaining its losses. Aussie PPI set for release. CURRENCY TRADING SUMMARY –23 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) had a mixed day on Friday…. read more
Australian FOREX Daily Outlook 20/04/2007
April 20, 2007Speculation on Chinese Interest Rate hike causes Carry Trade unwinding. UK Retail Sales sure to generate market interest. CURRENCY TRADING SUMMARY –20 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) was mixed against all majors on Thursday. Although initial jobless claims came inworse than expected with the figure of 339k higher… read more
Australian FOREX Daily Outlook 19/04/2007
April 19, 2007GBP reaches a 26 year high on the back of speculation of further tightening. Euro breaks key levels of 1.3600 to trade near 2 year highs, AUD reaches a fresh 16 ½ year highs CURRENCY TRADING SUMMARY –19 APRIL 07 (23:30GMT) U.S. Dollar Trading (USD) slid on Wednesday against all… read more
