MARKET SUMMARY –19APRIL06 (05:00GMT) The Dollar continued to weaken against the major currencies overnight on the back of dovish comments from FOMC and weaker than expected housing market data. FOMC Minutes show the end of the tightening campaign is “likely to be near”, that members were concerned about the risk… 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 18/04/2006
April 18, 2006MARKET SUMMARY –18APRIL06 (05:00GMT) The Dollar traded down against the major currencies overnight despite the announcement of strong portfolio flows into the US for the month of February. The market seems to be focusing on tensions with Iran and the belief that the Federal Reserve is close to ending its… read more
Australian FOREX Daily Outlook 13/04/2006
April 13, 2006MARKET SUMMARY –13APRIL06 (05:00GMT) The Dollar was generally firmer versus the major currencies overnight following the smaller than expected trade deficit. The US trade deficit narrowed from US$68.59 billion to US$65.74 billion in February, below market expectations centered on a shortfall near US$67.50 billion. In other markets, US shares were… read more
Australian FOREX Daily Outlook 12/04/2006
April 12, 2006MARKET SUMMARY –12APRIL06 (05:00GMT) The Dollar softened against the major currencies overnight with some flows into “safe haven” currencies after Iran said that it had successfully enriched uranium. On the news front, Minneapolis Fed President Gary Stern said that economic forecasts will be central to Fed decision making because of… read more
Australian FOREX Daily Outlook 11/04/2006
April 11, 2006MARKET SUMMARY –11APRIL06 (05:00GMT) The Dollar was range bound against the major currencies overnight in a lackluster session that contained no significant economic news and data. Federal Reserve Governor Susan Bies has watered down expectations about future rate hikes saying: “It’s not a slam-dunk how much further we’re going”. These… read more
Australian FOREX Daily Outlook 10/04/2006
April 10, 2006MARKET SUMMARY –10APRIL06 (05:00GMT) The Dollar continued to strengthen against the major currencies on Friday night, after firmer than expected employment figures raised the prospect of further US rate hikes in coming months. US non-farm payrolls (employment) rose by 211,000 in March, ahead of forecasts centered on an increase of… read more
Australian FOREX Daily Outlook 07/04/2006
April 7, 2006MARKET SUMMARY –07APRIL06 (05:00GMT) The Dollar was largely unchanged against the major currencies with the exception of Euro where it strengthened after ECB President Trichet cooled investors’ expectation for a May rate hike. On the data front, US initial jobless claims unexpectedly fell 5,000 last week to 299,000. The fall… read more
Australian FOREX Daily Outlook 06/04/2006
April 6, 2006MARKET SUMMARY –06APRIL06 (05:00GMT) The Dollar continued to slide against the Euro and commodity currencies overnight on expectations that US official interest rates were near their peak. The market largely ignored positive data with the US ISM services gauge rising from 60.1 to 60.5 in March, contrary to market expectations… read more
Australian FOREX Daily Outlook 05/04/2006
April 5, 2006MARKET SUMMARY –05APRIL06 (05:00GMT) The Dollar continued its slide against major currencies overnight in the absence of economic data out of the States. Fed’s Fisher said overnight that he wonders how long low US unemployment can last without inducing inflationary pressure, reiterates Fed commitment to ensure inflation remains under control…. read more
Australian FOREX Daily Outlook 03/04/2006
April 3, 2006MARKET SUMMARY –03APRIL06 (05:00GMT) The Dollar made minor gains versus the major currencies in Friday night trade. There was a batch of data released in the States and taken collectively the US data was generally upbeat. US personal income rose by 0.3% in February with spending up by 0.1%. The… read more
