CURRENCY TRADING SUMMARY –01 FEBRUARY 07 (23:30GMT) U.S. Dollar Trading (USD) in a heavy data-day the FOMC decided to keep interest rates unchanged (5.25%). As much as the market expected the decision, it was accompanying statements by Fed officials indicating that inflationary pressures are receding that caused most interest with… 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 31/01/2007
January 31, 2007CURRENCY TRADING SUMMARY –31 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) remained steady with majors trading in tight ranges as investors await the FOMC decision on interest rates. The dollar received little support from a US consumer confidence index that was in-line with expectations. In other markets the NASDAQ was… read more
Australian FOREX Daily Outlook 30/01/2007
January 30, 2007CURRENCY TRADING SUMMARY –30 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) experienced a mixed day against all other major currencies, as investors await the Federal Reserve’s decision on interest rates. This was supported by the USD dropping against the Euro and strengthening against the AUD. As the current rate stands… read more
Australian FOREX Daily Outlook 29/01/2007
January 29, 2007CURRENCY TRADING SUMMARY –29 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) strengthened against the Euro following stronger than expected data from the US housing and manufacturing sectors, indicating that the economy remains in solid footing.With new homes coming in higher than expected at 1.12 million rather than the forecasted 1.05… read more
Australian FOREX Daily Outlook 25/01/2007
January 25, 2007CURRENCY TRADING SUMMARY –25 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) strengthened against all other majors except for the Yen. Following a slower start to the week the economic data out of the US increases considerably as Existing Home Sales for the month of December being released today with market… read more
Australian FOREX Daily Outlook 24/01/2007
January 24, 2007CURRENCY TRADING SUMMARY –24 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) fell against major currencies reaching a 14 year low against the sterling. The Richmond Fed survey was released coming in worse than expected down -11 significantly lower than forecasted 2. With further economic data due out at the end… read more
Australian FOREX Daily Outlook 23/01/2007
January 23, 2007CURRENCY TRADING SUMMARY –23 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) following strong economic data with regards to consumer sentiment last week the USD remained solid, lifting against all other majors. In the absence of any market moving economic data, investors sought to take profits in the majors. In other… read more
Australian FOREX Daily Outlook 22/01/2007
January 22, 2007CURRENCY TRADING SUMMARY –22 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) focus shifted towards consumer confidence which rose from 91.7 to 98.0, and significantly higher than the expected 92.5 for the month of January. As a result, the US Dollar was only initially supported before ending the New York session… read more
Australian FOREX Daily Outlook 19/01/2007
January 19, 2007CURRENCY TRADING SUMMARY –19 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) overall saw strong data with the CPI reaching its highest rates in 8 months at 0.5% higher than the expected 0.4%, whilst the pace of US Housing starts climbed a further 4.5% at 1.642 million. Leading to expectations that… read more
Australian FOREX Daily Outlook 18/01/2007
January 18, 2007CURRENCY TRADING SUMMARY –18 JANUARY 07 (23:30GMT) U.S. Dollar Trading (USD) overall traded within a narrow range against all other majors in the overnight forex session. US PPI came in stronger than the expected 0.5%, actual was at 0.9%. The Feds Beige Book was consistent with recent data economy growing… read more
