CURRENCY TRADING SUMMARY –4 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was mixed against the majors in the overnight foreign exchange trading session as the USD initially weakened against the majors after release of the rate announcement by the ECB, then strengthened as investors took profit. US factory orders came in… 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 03/08/2006
August 3, 2006CURRENCY TRADING SUMMARY –3 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) was broadly firmer in the overnight foreign exchange trading session as market participants booked profits in other currencies. The US ADP employment report showed an additional 99,000 jobs were created in July, down from 368k the month before. In other… read more
Australian FOREX Daily Outlook 02/08/2006
August 2, 2006CURRENCY TRADING SUMMARY –2 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) weakened against the majors in the overnight forex trading session as the US ISM manufacturing index came in higher than expected and the Core PCE deflator came in on expectations. US ISM rose to 54.7 from 53.8 in July, beating… read more
Australian FOREX Daily Outlook 01/08/2006
August 1, 2006CURRENCY TRADING SUMMARY –1 AUGUST06 (05:00GMT) U.S. Dollar Trading (USD) remained steady against the majors in the overnight foreign exchange trading session, as the greenback traded in tight ranges after a mixed release of data from the US. The Chicago PMI rose to 57.9 from 56.5 in June, compared to… read more
Australian FOREX Daily Outlook 31/07/2006
July 31, 2006CURRENCY TRADING SUMMARY –31JULY06 (05:00GMT) U.S. Dollar Trading (USD) slid against the majors in the overnight forex session as data released showed a lower-than-expected US economic growth for the second quarter. US GDP came in at a 2.5% annual rate for Q2 compared to a 3% estimate by the market…. read more
Australian FOREX Daily Outlook 28/07/2006
July 28, 2006CURRENCY TRADING SUMMARY –28JULY06 (05:00GMT) U.S. Dollar Trading (USD) was mostly weaker against the majors in the overnight foreign exchange trading session as US durable goods came in better than expected together with initial jobless claims, and US new home sales fell more than expected. US durable goods rose 3.1pct… read more
Australian FOREX Daily Outlook 27/07/2006
July 27, 2006CURRENCY TRADING SUMMARY –27JULY06 (05:00GMT) U.S. Dollar Trading (USD) extended its losses against the majors in the overnight forex trading session after the release of the US Federal Reserve Beige Book, reinforcing the view that the economy is slowing and that US interest rates may be at their peak. The… read more
Australian FOREX Daily Outlook 26/07/2006
July 26, 2006CURRENCY TRADING SUMMARY –26JULY06 (05:00GMT) U.S. Dollar Trading (USD) gained ground on the majors in the overnight foreign exchange trading session as US existing home sales fell and consumer confidence rose. US existing home sales fell to a 6.62 million annual rate for June, beating forecasts of a drop near… read more
Australian FOREX Daily Outlook 25/07/2006
July 25, 2006CURRENCY TRADING SUMMARY –25JULY06 (05:00GMT) U.S. Dollar Trading (USD) was range bound in the overnight forex session as the foreign exchange market had little to act upon with few data releases and the conflict in the Middle-East nearing its third week of fighting. In other markets, the Dow Jones rose… read more
Australian FOREX Daily Outlook 24/07/2006
July 24, 2006CURRENCY TRADING SUMMARY –24JULY06 (05:00GMT) U.S. Dollar Trading (USD) was generally weaker in the Friday night foreign exchange trading session as hopes of another rate hike in August by the Federal Reserve continue to fade. The forex market seems to be lingering on the words of Federal Reserve Chairman Ben… read more
