MARKET SUMMARY –21JUNE06 (05:00GMT) The Dollar initially rose then retreated in the overnight session as better than expected housing starts failed to keep the dollar strengthened against the major currencies. US housing starts rose to 1.957 million in May from 1.863 million the month before, beating estimates of a rise… 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 20/06/2006
June 20, 2006MARKET SUMMARY –20JUNE06 (05:00GMT) The Dollar rose across the board in flat trading against the major currencies in the overnight session as the market weighed in on a possible rate hike at the end of this month. US homebuilder sentiment dropped by 4pts as the NAHB survey showed a level… read more
Australian FOREX Daily Outlook 19/06/2006
June 19, 2006MARKET SUMMARY –19JUNE06 (05:00GMT) The Dollar was mostly flat against the other major currencies as a narrower than expected US current account deficit data was overshadowed by comments from the Federal Reserve on inflationary pressures. The current account deficit narrowed for the first quarter to $208.7 billion from $223.1 billion… read more
Australian FOREX Daily Outlook 14/06/2006
June 14, 2006MARKET SUMMARY –14JUNE06 (05:00GMT) The Dollar continued its strength against the major currencies as core PPI rose higher than expected and retail sales came in on target. Core PPI rose 0.3% in May whereas markets expected a rise of only 0.2%. Headline PPI however rose 0.2% compared to 0.5% forecasted…. read more
Australian FOREX Daily Outlook 13/06/2006
June 13, 2006MARKET SUMMARY –13 JUNE06 (05:00GMT) The Dollar continued exerting strength against the major currencies in the overnight session with comments from Federal Reserve President Pianalto stating that recent news on US inflation exceeded her “comfort level”.In other markets, US stocks fell on Monday as interest rate concerns played heavily on… read more
Australian FOREX Daily Outlook 09/06/2006
June 9, 2006MARKET SUMMARY –9 JUNE06 (05:00GMT) The Dollar continued its impressive strength against the major currencies in the overnight session, after the ECB decided to lift interest rates by only 25 basis points. The markets were hoping for a 50 basis point increase and this was reflected on the US dollar,… read more
Australian FOREX Daily Outlook 08/06/2006
June 8, 2006MARKET SUMMARY –8JUNE06 (05:00GMT) The Dollar strengthened last night on the back of hawkish comments by Atlanta Federal Reserve president Jack Guynn after he stated that he wasn’t going to take risks with inflation, and that it would be harder to reel in inflation if it were to escape from… read more
Australian FOREX Daily Outlook 07/06/2006
June 7, 2006MARKET SUMMARY –7JUNE06 (05:00GMT) The Dollar strengthened against the major currencies in the overnight session after St. Louis Federal Reserve President William Poole noted his concern about inflation and that a slowing economy wasn’t enough to halt inflationary pressures. These comments together with comments from Eurozone finance ministers stating their… read more
Australian FOREX Daily Outlook 06/06/2006
June 6, 2006MARKET SUMMARY –6JUNE06 (05:00GMT) The Dollar strengthened in the overnight session against the major currencies after Federal Reserve chairman Bernanke expressed his concern in the rise of core inflation in the US, sparking fears that the Federal Reserve may raise rates this month. The US ISM services dropped to 60.1%… read more
Australian FOREX Daily Outlook 05/06/2006
June 5, 2006MARKET SUMMARY –5JUNE06 (05:00GMT) The Dollar dropped against the major currencies on Friday as a result of the weaker than expected US non-farm payrolls data. Although unemployment fell and average hourly earnings rose, the dollar weakened after payroll data for May came in at only 75k, when market estimates were… read more
