MARKET SUMMARY –16MAR06 (05:00GMT) The Dollar was again sold off overnight against the major currencies as the market preferred to focus on capital inflows (US$ 66 bio as forecasted), which failed to cover the trade deficit for the 2nd consecutive month. The currency market ignored a better than expected Empire… 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 15/03/2006
March 15, 2006MARKET SUMMARY –15MAR06 (05:00GMT) The Dollar weakened against the major currencies overnight on the back of speculation that the Fed was close to ending its tightening cycle. The dollar suffered from a publication from Medley Global Advisers saying that the Fed might not hike more than once or twice more…. read more
Australian FOREX Daily Outlook 14/03/2006
March 14, 2006MARKET SUMMARY –14MAR06 (05:00GMT) The Dollar was slightly weaker versus the major currencies as the market interpreted comments by Federal Reserve President Janet Yellen to be mildly dovish. Yellen indicated that the Fed should be sensitive to the possibility of overshooting on tightening. In other markets, US shares traded sideways… read more
Australian FOREX Daily Outlook 10/03/2006
March 10, 2006MARKET SUMMARY –10MAR06 (05:00GMT) The Dollar shrugged of a record trade deficit and continued to make gain against the major currencies overnight. The market continues to focus on inflationary issues rather than structural areas of the economy, and continue to buy dollars in expectation of strong payrolls data tonight. The… read more
Australian FOREX Daily Outlook 09/03/2006
March 9, 2006MARKET SUMMARY –09MAR06 (05:00GMT) The Dollar was range bound overnight as the market awaits a policy decision by the Bank of Japan later today and the US payroll s report on Friday. There were no major data releases in the States overnight. St Louis Federal Reserve President William Poole indicated… read more
Australian FOREX Daily Outlook 08/03/2006
March 8, 2006MARKET SUMMARY –08MAR06 (05:00GMT) The Dollar continued to make further gains against major currencies overnight, after Federal Reserve president William Poole warned of more rate hikes if US economic data remained strong. On the data front, US productivity growth in December quarter was revised to show a decline of 0.5%,… read more
Australian FOREX Daily Outlook 07/03/2006
March 7, 2006MARKET SUMMARY –07MAR06 (05:00GMT) The Dollar strengthened against the major currencies overnight due to higher US bond yields. US treasuries fell (yields higher) as investors expect the Federal Reserve to lift rates again at its next meeting on March 27 & 28. This is despite US factory orders falling by… read more
Australian FOREX Daily Outlook 06/03/2006
March 6, 2006MARKET SUMMARY –06MAR06 (05:00GMT) The Dollar for the most part traded sideways against the major currencies on Friday. The US ISM services index rose from 56.8 to 60.1 in February with employment up but prices – paid index easing. The market expectations had centered on 58.0. The final reading of… read more
Australian FOREX Daily Outlook 03/03/2006
March 3, 2006MARKET SUMMARY –03MAR06 (05:00GMT) The Dollar fell against the major currencies overnight. The dollar fell to three-week lows against the euro following the ECB raising rates and its inflation forecast for 2007. Also weighing on the dollar was new claims for jobless benefits which rose more than expected last week… read more
Australian FOREX Daily Outlook 02/03/2006
March 2, 2006MARKET SUMMARY –02MAR06 (05:00GMT) The Dollar was mixed against major currencies overnight. However, the stronger than expected ISM manufacturing index reading lifted the dollar midway through the New York session. The US ISM manufacturing index rose more than expected to 56.7 in February from 54.8 in January. The index showed… read more
