MARKET SUMMARY – 10/01/06(03.00GMT) The Dollar was mixed in overnight trade, paring back some of its losses against euro and yen but slipping further against commodity based currencies due to strong rally in base metal prices. Economic data was limited to consumer credit for November, which unexpectedly fell by –US$0.6bln… 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 06/01/2006
January 9, 2006MARKET SUMMARY – 06/01/06(03.00GMT) The Dollar traded largely sideways overnight and finished only mildly stronger against the major currencies despite. Economic adapt released overnight in the States had little impact on the currency market as traders await the Non–farm payrolls data due out later today. The ISM non-manufacturing survey was… read more
Australian FOREX Daily Outlook 09/01/2006
January 9, 2006MARKET SUMMARY – 09/01/06(03.00GMT) The Dollar continued to weaken on Friday after a smaller than expected payrolls result. US sharemarkets posted solid gains as well with key indexes lifting to 4 year highs. The mixed jobs report watered down expectations of rate hikes. The Dow Jones rose by 77pts and… read more
Australian FOREX Daily Outlook 04/01/2006
January 5, 2006MARKET SUMMARY – 04/01/06(03.00GMT) The Dollar weakened considerably overnight versus the major currencies on the back of weaker than expected economic data and the FOMC signaling the rate hiking cycle is coming to an end. The US ISM manufacturing index eased from 58.1 to 54.2 in December, well short of… read more
Australian FOREX Daily Outlook 05/01/2006
January 5, 2006MARKET SUMMARY – 05/01/06(03.00GMT) The Dollar continued to weaken against the major currencies overnight. The market continues to focus on the hopes that the Federal Reserve is nearing a pause in its rate-hiking cycle. The market paid little attention to economic data released in the States overnight. Mortgage applications declined… read more
Australian FOREX Daily Outlook 29/12/2005
January 3, 2006MARKET SUMMARY – 29/12/05(03.00GMT) The Dollar rose against major currencies in thin, technically driven trade overnight although the solid consumer confidence reading provided fundamental support. US consumer confidence rose from 98.3 to 103.6 in December and ahead of market expectations of 101.8. US retails sales rose 4.5% in the week… read more
Australian FOREX Daily Outlook 03/01/2006
January 3, 2006MARKET SUMMARY – 03/01/06(03.00GMT) The Dollar was mostly firmer against major currencies on Friday in the New York and London sessions. However there was little driving the market apart from the year-end position squaring. US sharemarkets eased on the Friday with investors fearing that the rebound in oil prices above… read more
Australian FOREX Daily Outlook 23/12/2005
December 23, 2005MARKET SUMMARY – 23/12/05(03.00GMT) The Dollar was mixed against the major currencies, weakening against the Japanese yen and Euro but strengthened against the high yielding currencies. The inflation gauge favored by the Federal Reserve came in softer than expectations. The November US PCE price index hinted to currency analysts that… read more
Australian FOREX Daily Outlook 22/12/2005
December 22, 2005MARKET SUMMARY – 22/12/05(03.00GMT) The Dollar continued its gains on major currencies overnight with talk of US companies repatriating foreign currency earnings ahead of year-end. The Homeland Investment Act (HIA) allows US companies to get a one-time reduced tax rate during 2005. The market ignored the GDP data overnight which… read more
Australian FOREX Daily Outlook 21/12/2005
December 21, 2005MARKET SUMMARY – 21/12/05(03.00GMT) The Dollar rallied strongly overnight against the major currencies after strong housing data raised the prospect of further US rate hikes in early 2006. US housing starts surprisingly rose in November, lifting 5.3pct to a 2.123 million annual rate. Economists had tipped starts of 2.017 million…. read more
