CURRENCY TRADING SUMMARY –01 MARCH 07 (23:30GMT) U.S. Dollar Trading (USD) Comments from Fed Chairman Bernanke, who said it is “reasonable” to expect stronger growth later in the year, lent some support to the dollar. Bernanke also played down the impact of a global plunge in stock prices on Tuesday,… 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 28/02/2007
February 28, 2007CURRENCY TRADING SUMMARY –28 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) softened again on Tuesday on the back of further poor economic data in the form of Durable goods. With expectations at -2.8% already a worse off figure than the previous of 2.9%, the actual figure was largely inferior coming… read more
Australian FOREX Daily Outlook 27/02/2007
February 27, 2007CURRENCY TRADING SUMMARY –27 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) softened against all other majors on Monday. This was on the back of data due for release out of the US expected to warrant an interest rate cut in the near future. Overall the market was in a precautious… read more
Australian FOREX Daily Outlook 26/02/2007
February 26, 2007CURRENCY TRADING SUMMARY –26 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) the dollar was mixed against all other majors on Friday to end the week, on the back of weak economic data and a trend in impressive data from other regions especially the Euro zone. In US share markets the… read more
Australian FOREX Daily Outlook 23/02/2007
February 23, 2007CURRENCY TRADING SUMMARY –23 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) was initially stronger against all other majors reaching a week high against the Euro, as further details of the Fed reserve policy meeting reduced expectations for an interest rate cut this year. In other news initial Jobless claims out… read more
Australian FOREX Daily Outlook 22/02/2007
February 22, 2007CURRENCY TRADING SUMMARY –22 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) strengthened following better than expected Core CPI, indicating inflation was still a key factor, hence the Fed will not look to cut interest rates in the near future. CPI came in at 0.3% higher than the forecasted 0.2%.Furthermore the… read more
Australian FOREX Daily Outlook 21/02/2007
February 21, 2007CURRENCY TRADING SUMMARY –21 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) following a slow start to the week due to a public holiday, on Tuesday the US markets experienced a quiet day of trading on the back of little key data release. The dollar was mixed against all other majors… read more
Australian FOREX Daily Outlook 20/02/2007
February 20, 2007CURRENCY TRADING SUMMARY –20 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) saw markets closed for President’s day, with most major currencies drifting against the dollar. US share markets were also closed Monday. Crude oil dropped by US$0.87 a barrel to US$58.52. Looking ahead, US economic releases are few this week… read more
Australian FOREX Daily Outlook 19/02/2007
February 19, 2007CURRENCY TRADING SUMMARY –19 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) continued its wave of poor economic data on Friday with Housing Starts weaker than expected coming in at 1.408 mln significantly lower than the 1.6 mln forecasted, whilst Core PPI was unchanged at 0.2%. Furthermore, it was a considerably… read more
Australian FOREX Daily Outlook 16/02/2007
February 16, 2007CURRENCY TRADING SUMMARY –16 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) dropped on Thursday against all other majors bar the GBP despite vigorous comments made by Ben Bernanke implying an interest rates hike if inflation moved higher. Bernanke warned that the US economy might be stronger than it appears during… read more
