US dollar falls as ISM manufacturing index disappoints and the strong Japanese Tankan survey surprises the forex market. CURRENCY TRADING SUMMARY –3 OCTOBER06 (01:30GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as the US ISM manufacturing index disappointed. The ISM index came… 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 29/09/2006
September 29, 2006CURRENCY TRADING SUMMARY –29 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) strengthened slightly against the majors in the overnight foreign exchange trading session even as second quarter GDP came in worse than expected and jobless claims fell. US GDP fell to 2.6% from a 2.9% expectation and jobless claims came in… read more
Australian FOREX Daily Outlook 28/09/2006
September 28, 2006CURRENCY TRADING SUMMARY –28 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as several disappointing data releases pushed the USD down. Durable goods orders for August came in at -0.5% when the market was expecting a 0.5% rise. New homes rose… read more
Australian FOREX Daily Outlook 27/09/2006
September 27, 2006CURRENCY TRADING SUMMARY –27 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) strengthened against the majors in the overnight forex session as both consumer confidence and the Richmond Fed index impressed the markets. Consumer confidence rose from 100.2 to 104.5 from an expected 102.3 for the month of September. The Richmond Fed… read more
Australian FOREX Daily Outlook 26/09/2006
September 26, 2006CURRENCY TRADING SUMMARY –26 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) was stronger against the majors in the overnight foreign exchange trading session as US home sales declined less than expected. Existing Home sales were expected to drop to 6.18million for August from 6.33million in July however, the fall was a… read more
Australian FOREX Daily Outlook 25/09/2006
September 25, 2006CURRENCY TRADING SUMMARY –25 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) was slightly stronger against the majors in the Friday overnight foreign exchange trading session as the US weekly leading index fell. The index compiled by the Economic Cycle Research Institute fell from 136.5 to 135.6. With not much data released… read more
Australian FOREX Daily Outlook 22/09/2006
September 22, 2006CURRENCY TRADING SUMMARY –22 SEPTEMBER06 (01:30GMT) U.S. Dollar Trading (USD) was weaker against the majors in the overnight foreign exchange trading session as the US Philly Fed survey came in much lower than expected prompting a rally across the board against the US dollar. Markets were expecting a level of… read more
Australian FOREX Daily Outlook 21/09/2006
September 21, 2006CURRENCY TRADING SUMMARY –21 SEPTEMBER06 (05:00GMT) U.S. Dollar Trading (USD) was generally neutral against the majors in the overnight foreign exchange trading session as the Federal Reserve decided to keep rates on hold, and the accompanying press statement was less dovish than expected. Voting members voted 10-1 in favour of… read more
Australian FOREX Daily Outlook 20/09/2006
September 20, 2006CURRENCY TRADING SUMMARY –20 SEPTEMBER06 (05:00GMT) U.S. Dollar Trading (USD) was softer against the majors in the overnight foreign exchange trading session as a softer US housing market and producer prices weakened the greenback upon their release. Housing starts posted a result of 1.665million compared to an estimated 1.75million and… read more
Australian FOREX Daily Outlook 19/09/2006
September 19, 2006CURRENCY TRADING SUMMARY –19 SEPTEMBER06 (05:00GMT) U.S. Dollar Trading (USD) was initially stronger against the major currencies before retreating after poor current account and TIC data was released in the overnight forex market session. The US current account deficit posted its second biggest ever deficit increasing to US$218.4 billion for… read more
