MARKET SUMMARY – 30JAN06 (05:00GMT) The Dollar strengthened against all the majors on Friday, despite a weaker than expected Q4 GDP. GDP rose by just 1.1% q/q annualized, much lower than market expectations of 2.8% q/q. The point to note is that the slowing in growth was exacerbated by large… 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 27/01/2006
January 27, 2006MARKET SUMMARY –THU 27JAN06 (05:00GMT) The Dollar continued to make gains against major currencies overnight, following stronger than expected US durable goods data. The market had expected a rise of 1.0% with the result coming in at 1.3%. Annual growth now stands at an extremely high 12.7%. The strength was… read more
Australian FOREX Daily Outlook 25/01/2006
January 25, 2006MARKET SUMMARY – 25/01/06(03.00GMT) The Dollar recovered some lost ground overnight in a lackluster session to finish slightly stronger against the major currencies. The move was largely due to profit-take as risk aversion trades appear to have moderated a little. However, geo-political risks are unlikely to fade quickly from investor’s… read more
Australian FOREX Daily Outlook 24/01/2006
January 24, 2006MARKET SUMMARY – 24/01/06(03.00GMT) The Dollar continued to weaken overnight against the major currencies with the exception of Aussie which was relatively stable. The primary catalyst for the dollar weakness in the last 48 hours is a pronounced shift towards more risk averse behavior on the part of market participants… read more
Australian FOREX Daily Outlook 23/01/2006
January 23, 2006MARKET SUMMARY – 23/01/06(03.00GMT) The Dollar was weaker against the major currencies on Friday night, weighed down by rising Iranian tensions. A senior Iranian official confirmed that the country had started to transfer assets from European accounts to other foreign banks ahead of possible UN sanctions. The weakness in the… read more
Australian FOREX Daily Outlook 20/01/2006
January 20, 2006MARKET SUMMARY – 20/01/06(03.00GMT) The Dollar was mixed against the major currencies overnight in choppy trade. An audio tape confirmed to be Osama Bin Laden sparked some dollar selling nut could not be sustained. On the data front, there were 1,933k housing starts in the US in December, below the… read more
Australian FOREX Daily Outlook 19/01/2006
January 19, 2006MARKET SUMMARY – 19/01/06(03.00GMT) The Dollar finished largely unchanged after a choppy trading session overnight. The US core CPI index rose 0.2% in December, as expected. Annual core inflation rose to 2.2% from 2.1% in November. The rise was the third consecutive monthly increase of 0.2%. The US headline CPI… read more
Australian FOREX Daily Outlook 18/01/2006
January 18, 2006MARKET SUMMARY – 18/01/06(03.00GMT) The Dollar lifted against major currencies overnight following stronger than expected capacity utilisation data.Capacity utilisation stands at a 5-year high and add to the case that the Fed will continue raising rates to arrest inflation pressures. Capacity utilisation rose more than expected to 80.7% from an… read more
Australian FOREX Daily Outlook 17/01/2006
January 17, 2006MARKET SUMMARY – 17/01/06(03.00GMT) The Dollar rose against the major currencies in the European session overnight. US markets were closed for public holiday. Looking ahead, and Industrial production/Capacity Utilisation and New York Fed survey are released in the States later today. In November, US industrial production recovered further following the… read more
Australian FOREX Daily Outlook 16/01/2006
January 16, 2006MARKET SUMMARY – 16/01/06(03.00GMT) The Dollar weakened against the major currencies overnight due to softer than expected US economic data. The softer than expected data further raised market expectations that the US Federal Reserve could soon be nearing an end to its rate hike cycle. The headline US producer prices… read more
