Major currencies weaken against Greenback. Gold and oil both dip. Market waits for a host of economic data. CURRENCY TRADING SUMMARY –14 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) was generally stronger against the majors in the overnight forex trading session as profit taking entered the market and the US… 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 13/11/2006
November 13, 2006Euro gains on the USD for the second straight session. PBOC Chief comments weaken the greenback. Oil drops. CURRENCY TRADING SUMMARY –13 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) was weaker against the majors in the Friday night foreign exchange trading session as the absence of any economic data from… read more
Australian FOREX Daily Outlook 10/11/2006
November 10, 2006Democrats win Senate. US trade balance better than expected. Commentary from China moves the markets. CURRENCY TRADING SUMMARY –10 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) was initially stronger against the majors in the overnight forex trading session as US trade balance came in better than expected. The trade balance… read more
Australian FOREX Daily Outlook 09/11/2006
November 9, 2006Democrats gain control of House of Representatives. US Dollar recoups some losses against major currencies. CURRENCY TRADING SUMMARY –9 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) pegged back some recent losses against the majors in the overnight foreign exchange trading session, as results of the legislative election began to trickle… read more
Australian FOREX Daily Outlook 08/11/2006
November 8, 2006US Dollar slides as elections draw to a close. Governor Fukui comments on possible future rate hikes in Japan. Market awaits rate decision from the RBA. CURRENCY TRADING SUMMARY –8 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session in technical… read more
Australian FOREX Daily Outlook 07/11/2006
November 7, 2006Greenback up against major currencies as Federal Reserve members speak. Crude rises above US$60 a barrel. CURRENCY TRADING SUMMARY –7 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) strengthened against the majors in the overnight forex session as Federal Reserve members downplay recent negative economic data from the US. Former Fed… read more
Australian FOREX Daily Outlook 06/11/2006
November 6, 2006US dollar higher after positive economic data released pointed to strong labour market and postponing of potential future rate cuts. CURRENCY TRADING SUMMARY –6 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) was stronger against the majors in the Friday night foreign exchange trading session as non-farm payrolls (NFP) disappointed, but… read more
Australian FOREX Daily Outlook 03/11/2006
November 3, 2006ECB leaves rates unchanged but signals December hike. Market awaits crucial Non-Farm Payrolls data. CURRENCY TRADING SUMMARY –3 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) was mixed versus the major currencies with no major data releases to provide direction. In other markets, the Dow Jones index was 33 points lower… read more
Australian FOREX Daily Outlook 02/11/2006
November 2, 2006US ISM manufacturing and construction spending disappoint. Market ignores stronger ADP employment number. Gold surges above key level. CURRENCY TRADING SUMMARY –2 NOVEMBER 06 (23:30GMT) U.S. Dollar Trading (USD) softened against the majors in the overnight foreign exchange trading session as data releases were anything but strongly positive for the… read more
Australian FOREX Daily Outlook 01/11/2006
November 1, 2006Disappointing economic data from the US causes sharp fall against major currencies. Oil touches 16-month low. CURRENCY TRADING SUMMARY –1 NOVEMBER 06 (01:30GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as consumer confidence and the Chicago PMI disappointed. Consumer confidence posted a… read more
