CURRENCY TRADING SUMMARY –4 SEPTEMBER06 (05:00GMT) U.S. Dollar Trading (USD) was initially stronger against the majors then gave up all its gains in the overnight foreign exchange trading session as Non-Farm Payrolls (NFP) came in better than expected, but the ISM manufacturing index disappointed.NFP came in at 128k, slightly better… 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 01/09/2006
September 1, 2006CURRENCY TRADING SUMMARY –1 SEPTEMBER06 (05:00GMT) U.S. Dollar Trading (USD) was initially weaker against the majors in the overnight forex trading session as the US Core PCE deflator came in less than expected and Personal spending and Income both rose. Core PCE came in at 0.1% compared to an expectation… read more
Australian FOREX Daily Outlook 31/08/2006
August 31, 2006CURRENCY TRADING SUMMARY –31 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) remained largely steady against the majors in the overnight foreign exchange trading session as a host of indicators from the US failed to create any substantial volatility in the markets. US GDP for the second quarter was revised up to… read more
Australian FOREX Daily Outlook 30/08/2006
August 30, 2006CURRENCY TRADING SUMMARY –30 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as the release of the FOMC minutes conveyed the thoughts of the Federal Reserve in choosing to pause in their rate hiking cycle. Although the voting was not unanimous… read more
Australian FOREX Daily Outlook 29/08/2006
August 29, 2006CURRENCY TRADING SUMMARY –29 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) edged slightly lower against the majors in the overnight forex session as the market awaits the FOMC minutes from the August 8th meeting to better gauge the interest rate policy going forward. In other markets, the Dow Jones index rose… read more
Australian FOREX Daily Outlook 28/08/2006
August 28, 2006CURRENCY TRADING SUMMARY –28 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) edged higher against the majors in the overnight foreign exchange trading session as the talk from Federal Reserve Chairman Bernanke steered clear of commenting on the US economy or Federal policy. In other markets, the Dow Jones index fell by… read more
Australian FOREX Daily Outlook 25/08/2006
August 25, 2006CURRENCY TRADING SUMMARY –25 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) gained against the majors in the overnight forex trading session as data coming out of the US was generally unimpressive. US new home sales fell to 1.072million from a 1.1million estimate. US durable goods also disappointed falling -2.4% compared to… read more
Australian FOREX Daily Outlook 24/08/2006
August 24, 2006CURRENCY TRADING SUMMARY –24 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) strengthened slightly against the majors in the overnight foreign exchange trading session even in the face of weaker than expected homes sales data from the US. US existing home sales fell to 6.33million from a 6.55million estimate, and a previous… read more
Australian FOREX Daily Outlook 07/08/2006
August 23, 2006CURRENCY TRADING SUMMARY –23 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) rose against the majors currencies in the overnight forex session as weak German economic data and comments from Fed officials helped to strengthen the greenback. The ZEW index, a measure of economic expectations, fell to five-year lows. Chicago Federal Reserve… read more
Australian FOREX Daily Outlook 21/08/2006
August 21, 2006CURRENCY TRADING SUMMARY –21 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was mixed against the majors in the overnight forex trading session as US consumer sentiment disappointed. The sentiment index fell from 84.7 to 78.7 in August below expectations of a modest fall to 83.6. In other markets, the Dow Jones… read more
