MARKET SUMMARY –02MAY06 (05:00GMT) The Dollar followed the usual trend and weakened against the major currencies in the early part of the overnight session. However, these losses were recovered and the dollar finished mildly stronger versus the majors, due to a CNBC report that implied Federal Reserve Chairman Ben Bernanke… 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 01/05/2006
May 1, 2006MARKET SUMMARY –01MAY06 (05:00GMT) The Dollar continued to weaken against the major currencies on Friday, still stung by Bernanke’s comments the previous night when he raised the possibility of a pause in the rate hiking cycle. On the data front, US Q1 GDP comes in at 4.8%, just shy of… read more
Australian FOREX Daily Outlook 01/05/2006
May 1, 2006MARKET SUMMARY –01MAY06 (05:00GMT) The Dollar continued to weaken against the major currencies on Friday, still stung by Bernanke’s comments the previous night when he raised the possibility of a pause in the rate hiking cycle. On the data front, US Q1 GDP comes in at 4.8%, just shy of… read more
Australian FOREX Daily Outlook 28/04/2006
April 28, 2006MARKET SUMMARY –28APRIL06 (05:00GMT) The Dollar was weaker versus the major currencies overnight following Fed Chairman Ben Bernanke’s testimony to Congress. Chairman Bernanke raised the likelihood of a pause in the tightening campaign after one more 25bp rate hike on May 10 is his testimony to the Joint Economic Committee…. read more
Australian FOREX Daily Outlook 27/04/2006
April 27, 2006MARKET SUMMARY –27APRIL06 (05:00GMT) The Dollar continued to weaken versus the major currencies despite strong economic data, this time with durable goods orders exceeding expectations. US durable goods surged 6.1% in March after an upwardly revised 3.4% rise in February and an 8.9% fall in January. The market had expected… read more
Australian FOREX Daily Outlook 26/04/2006
April 26, 2006MARKET SUMMARY –26APRIL06 (05:00GMT) The Dollar was generally weaker versus the major currencies overnight with the exception of Japanese yen. The dollar fell to a seven-month low against the Euro after a European Central Bank board member indicated that the pace of monetary tightening could increase. The dollar strengthened dramatically… read more
Australian FOREX Daily Outlook 25/04/2006
April 25, 2006MARKET SUMMARY –25APRIL06 (05:00GMT) The Dollar continued to lose ground against the major currencies overnight. The Dollar lost more then 1% against the Japanese yen and slid to 7 month lows versus the Euro. Calls by the G7 ministers for Yuan reform by China continues to dominate trading as investors… read more
Australian FOREX Daily Outlook 24/04/2006
April 24, 2006MARKET SUMMARY –24APRIL06 (05:00GMT) The Dollar weakened across the board on Friday night and especially versus Asian currencies following comment by the G7. The G7 indicated it will single out China in their call for more flexibility in exchange rates. Traders believe that more flexibility in China’s exchange rate would… read more
Australian FOREX Daily Outlook 21/04/2006
April 21, 2006MARKET SUMMARY –21APRIL06 (05:00GMT) The Dollar strengthened across the board overnight due to profit taking. On the data front, the Philadelphia Fed survey rose from 12.3 in March to 13.2 in April. Analysts had expected a rise of 14.0. The US leading indicator fell 0.1% in March, following a downwardly… read more
Australian FOREX Daily Outlook 20/04/2006
April 20, 200620APRIL06 (05:00GMT)MARKET SUMMARY – The Dollar failed to make any significant headway against the major currencies, despite better than expected CPI data. The core consumer price index (ex food and oil) rose 0.3% in March, the highest rise in a year and slightly above market expectation of a 0.2% rise…. read more
