CURRENCY TRADING SUMMARY –15 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) fell against all other majors following poor economic data and statements made by Federal Reserve chairman Bernanke. As a result the USD fell to six week lows against the Euro as Bernanke indicated that inflation pressures were receding in… 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 14/02/2007
February 14, 2007CURRENCY TRADING SUMMARY –14 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) dropped yesterday following a widening of the trade deficit, raising concerns over US economic growth. With markets forecasting a figure of -59.50 bln the figure was released worse than expected at -61.18 bln. As a result the USD weakened… read more
Australian FOREX Daily Outlook 13/02/2007
February 13, 2007CURRENCY TRADING SUMMARY –13 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) was strong against most other majors on Monday following hawkish comments from Fed officials on Friday pushing treasury yields higher, helping the cause of the USD. As a result the Dollar rose against the Euro to nearly 0.4%. Overall… read more
Australian FOREX Daily Outlook 12/02/2007
February 12, 2007CURRENCY TRADING SUMMARY –12 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) finished the week as plenty of focus surrounded the much anticipated G7 summit in Germany. As a result the USD remained unsteady against all other majors. The results of the G7 summit however were less influential than expected, with… read more
Australian FOREX Daily Outlook 09/02/2007
February 9, 2007CURRENCY TRADING SUMMARY –09 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) dropped against all other majors last night except for the Japanese Yen. In what has been a quiet week for the US in terms of economic data, Initial Jobless claims was released yesterday with the figure coming in better… read more
Australian FOREX Daily Outlook 08/02/2007
February 8, 2007CURRENCY TRADING SUMMARY –08 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) was mixed against other majors on Wednesday following US economic data on productivity for the fourth quarter coming in better than expected at 3.00% (forecast: 1.8, previous: -0.1%). Labor costs out of the US were also made public with… read more
Australian FOREX Daily Outlook 07/02/2007
February 7, 2007CURRENCY TRADING SUMMARY –07 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) fell against all other majors on Tuesday, largely due to the fact that Fed Reserve Chairman Bernanke made no mention regarding interest rates in his speech on economic well being. In other news, quiet trading dominated the US share… read more
Australian FOREX Daily Outlook 06/02/2007
February 6, 2007CURRENCY TRADING SUMMARY –06 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) held on to its gains following key measures of the US services sector coming in stronger than expected suggesting a stable economy. With expectations at 57 and the previous figure of 56.7, non manufacturing figures came in higher at… read more
Australian FOREX Daily Outlook 05/02/2007
February 5, 2007CURRENCY TRADING SUMMARY –05 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) traded in a heavy data-day with Non-Farm payrolls coming in weaker-than-expected. Markets initially forecasted 145K, whilst the actual was a figure of 111k. However this weak economic data did not have the expected influence on markets as previous months… read more
Australian FOREX Daily Outlook 02/02/2007
February 2, 2007CURRENCY TRADING SUMMARY –02 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) traded in a heavy data-day with the ISM manufacturing coming in weaker-than-expected. With markets forecasting an index of 51.9 the actual figure came in at 49.3 (lowest reading in almost four years, since April 2003), less than the previous… read more
