CURRENCY TRADING SUMMARY –18 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) strengthened against the majors in the overnight forex trading session after weakening during European trading. Initial jobless claims came in at 312k compared to a 315k estimate. Leading indicators also disappointed coming in at -0.1 compared to a 0.1 forecast…. 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 17/08/2006
August 17, 2006CURRENCY TRADING SUMMARY –17 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) further weakened against the majors in the overnight foreign exchange trading session as US CPI numbers came in generally as expected, but housing and industrial production disappointed the forex market. US Headline CPI came in at 0.4% for the month… read more
Australian FOREX Daily Outlook 16/08/2006
August 16, 2006CURRENCY TRADING SUMMARY –16 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as weaker than expected headline and core PPI figures released in the US pushed the dollar down against the major currencies. Headline PPI for July came in at 0.1%… read more
Australian FOREX Daily Outlook 15/08/2006
August 15, 2006CURRENCY TRADING SUMMARY –15 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was marginally higher against the majors in the overnight forex trading session as the cease-fire in the Middle Eats helped to relieve geopolitical tensions in the area. In other markets, the Dow Jones rose by 10pts while the NASDAQ rose… read more
Australian FOREX Daily Outlook 14/08/2006
August 14, 2006CURRENCY TRADING SUMMARY –14 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was stronger against the majors in the overnight foreign exchange trading session as US retail sales rose sharply by 1.4pct in July, better than market estimates hovering around 0.8pct. Excluding autos, retails sales rose by 1.0pct. In other markets, the… read more
Australian FOREX Daily Outlook 11/08/2006
August 11, 2006CURRENCY TRADING SUMMARY –11 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) gained against the majors in the overnight forex session as the US trade gap narrowed slightly and news of a foiled terrorist plot in the UK emerged. US trade balance came in at -64.8bln for the month of June compared… read more
Australian FOREX Daily Outlook 10/08/2006
August 10, 2006CURRENCY TRADING SUMMARY –10AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was initially weaker against the majors in the overnight forex session before gaining lost ground before close of session, as investors expect the US Federal Reserve to leave rates on hold in coming months despite expected increases elsewhere around the world…. read more
Australian FOREX Daily Outlook 09/08/2006
August 9, 2006CURRENCY TRADING SUMMARY –9 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight foreign exchange trading session as the US Federal Reserve decided to leave rates on hold after rate hikes spanning over 2 years. Although commentary after their decision stated that “inflation pressures seem likely… read more
Australian FOREX Daily Outlook 08/08/2006
August 8, 2006CURRENCY TRADING SUMMARY –8 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was firmer against the majors in the overnight foreign exchange trading session as traders sought to take profit ahead of the FOMC meeting. The forex market is pricing in a 15% chance that the US Federal Reserve will hike rates…. read more
Australian FOREX Daily Outlook 07/08/2006
August 7, 2006CURRENCY TRADING SUMMARY –7 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was weaker across the board against the majors in the overnight forex market as the non-farm payroll (NFP) number from the US came in weaker than expected. NFP was forecasted to come in at 142k, but disappointed coming in at… read more
