MARKET SUMMARY –2JUNE06 (05:00GMT) The Dollar continued its volatile trading in the overnight session strengthening against the major currencies before falling again after weaker than expected ISM manufacturing numbers were released. The ISM index fell more than expected in May to 54.4 from 57.3 in April, which was below expectation… 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 01/06/2006
June 1, 2006MARKET SUMMARY –1JUNE06 (05:00GMT) The Dollar recouped some of its losses against the major currencies in the overnight session, bouncing back after some positive comments from Secretary of State Condoleezza Rice, hawkish comments from the FOMC minutes, and a stronger than expected Chicago PMI index. Secretary of State Rice commented… read more
Australian FOREX Daily Outlook 31/05/2006
May 31, 2006MARKET SUMMARY –31MAY06 (05:00GMT) The Dollar weakened against the major currencies in the overnight session as the US consumer confidence showed a fall to 103.3 from 109.8 for the month of May. This result however was better than the forecasted 100.0 level. President Bush named Goldman Sachs chief executive as… read more
Australian FOREX Daily Outlook 30/05/2006
May 30, 2006MARKET SUMMARY –30MAY06 (05:00GMT) The Dollar was very quiet against the major currencies in the overnight session as both the US and the UK were on holidays due to the Memorial Day and the Bank holidays respectively. In other markets, the NYSE and NASDAQ were both closed as a result… read more
Australian FOREX Daily Outlook 29/05/2006
May 29, 2006MARKET SUMMARY –29MAY06 (05:00GMT) The Dollar initially was weaker against the major currencies in the overnight session on the back of expected Core PCE deflator data. The market had forecasted a 0.2% rise for the month of April, and that is exactly what was released on Friday. The annual rate… read more
Australian FOREX Daily Outlook 26/05/2006
May 26, 2006MARKET SUMMARY –26MAY06 (05:00GMT) The Dollar slipped against the major currencies in the overnight session after the upward revision of Q1 GDP falling short of forecasts. The March quarter GDP came in at 5.3% whereas analysts were expecting 5.8%. US existing home sales fell 2% in April, dropping to 6.76… read more
Australian FOREX Daily Outlook 25/05/2006
May 25, 2006MARKET SUMMARY –25MAY06 (05:00GMT) The Dollar retreated during the overnight session against major currencies after the German IFO index came in better than forecasters expected. Forecasters were expecting a level of 105 as opposed to 105.6 released last night, which is only a marginal fall from the all time high… read more
Australian FOREX Daily Outlook 24/05/2006
May 24, 2006MARKET SUMMARY –24MAY06 (05:00GMT) The Dollar did not move significantly during the market however it did strengthen against the major currencies towards the end of day’s trading on the back of comments by Federal Reserve chairman Bernanke saying that interest rates may be increased after the FOMC meeting in late… read more
Australian FOREX Daily Outlook 22/05/2006
May 22, 2006MARKET SUMMARY –22MAY06 (05:00GMT) The Dollar rose against the major currencies on Friday with investors exiting the stock and commodities markets, and buying into US treasuries. In other markets, US stocks recovered some lost ground, sparked by a rebound in technology stocks adding to the fall in commodity-dependent stocks. The… read more
Australian FOREX Daily Outlook 19/05/2006
May 19, 2006MARKET SUMMARY –19MAY06 (05:00GMT) The Dollar weakened against major currencies yesterday after US Treasury Secretary John Snow urged China to increase flexibility in the Yuan, and the German Finance Minister stating that the pressures of a stronger Euro could be absorbed. On the data front, the US Philadelphia Fed index… read more
