MARKET SUMMARY –18MAY06 (05:00GMT) The Dollar soared against major currencies on Wednesday with the market expecting the Federal Reserve to raise rates again after higher than expected CPI figures came through. Also, comments from the French Finance Minister indicating that all will be done to stop the Euro appreciating, spurred… 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 17/05/2006
May 17, 2006MARKET SUMMARY –17MAY06 (05:00GMT) The Dollar fell against most of the other major currencies yesterday after data released for housing starts and producer prices came in below forecasts, suggesting that the Federal Reserve may be close to pausing its rate-hiking cycle. On the data front, housing starts eased back in… read more
Australian FOREX Daily Outlook 16/05/2006
May 16, 2006MARKET SUMMARY –16MAY06 (05:00GMT) The Dollar rose sharply against major currencies on the back of rising commodity prices. Commodity prices plunged across the board on Monday as speculators sought to unwind over-bought positions. On the data front, growth in net US foreign security purchases was lower than expected for March…. read more
Australian FOREX Daily Outlook 15/05/2006
May 15, 2006MARKET SUMMARY –15MAY06 (05:00GMT) The Dollar recovered in the early part of the Friday session following a better than expected trade deficit. However, the dollar could not hold onto these gains as consumer confidence data disappoints. The US trade deficit eased to US$62bln in March from 65.6bln in February. The… read more
Australian FOREX Daily Outlook 12/05/2006
May 12, 2006MARKET SUMMARY –12MAY06 (05:00GMT) The Dollar weakened across the board overnight following softer than expected US retail sales. US retail sales rose by 0.5% in April, below expectations centered on a 0.7% gain. In other data US jobless claims fell by 1,000 in the latest week to 324,000. In other… read more
Australian FOREX Daily Outlook 11/05/2006
May 11, 2006MARKET SUMMARY –11MAY06 (05:00GMT) The Dollar trader lower against the major currencies in the early part of the overnight session hitting one year lows versus the Euro. However the dollar recovered to finish stronger across the board, particularly against the Japanese yen. The two key reasons for the dollar rebound… read more
Australian FOREX Daily Outlook 10/05/2006
May 10, 2006MARKET SUMMARY –10MAY06 (05:00GMT) The Dollar continued to trade lower against the major currencies overnight due to rallying metals prices. In other markets, US shares moved higher overnight with the Dow Jones close to its record high. The Dow Jones index rose by 55pts while the NASDAQ fell by 7pts…. read more
Australian FOREX Daily Outlook 09/05/2006
May 9, 2006MARKET SUMMARY –09MAY06 (05:00GMT) The Dollar was initially sold in the overnight session but managed to recover from multi-month lows against the major currencies as traders took profit on positions ahead of some key events. The market is waiting for the Federal Reserve interest rate decision due on Wednesday and… read more
Australian FOREX Daily Outlook 08/05/2006
May 8, 2006MARKET SUMMARY –08MAY06 (05:00GMT) The Dollar continued to fall against the major currencies on Friday following worse than expected US non-farm payroll data. US non-farm payrolls rose by 138,000 in April, short of expectations centered on a rise of 200,000 jobs. Average hourly earnings rose by 0.5% and the unemployment… read more
Australian FOREX Daily Outlook 03/05/2006
May 3, 2006MARKET SUMMARY –03MAY06 (05:00GMT) The Dollar continued its slide against the major currencies overnight. The market used strong PMI data out of the Europe and UK to sell the US dollar. On the data front in the States, the March Pending Home Sales index fell 1.2% after 0.8% in February…. read more
