MARKET SUMMARY – 20/12/05(03.00GMT) The Dollar was relatively stable yesterday amidst thinning liquidity and scant data releases. The big movers overnight were the commodity currencies –AUD, CAD and NZD, which suffered as long positions in these currencies continued to be reduced. Other high yielders such as the GBP suffered as… 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 19/12/2005
December 19, 2005MARKET SUMMARY – 19/12/05(03.00GMT) The Dollar continued to ease against the major currencies on Friday, but was stronger against the commodity based currencies. The dollar continues to suffer from market expectations that the Fed is close to the end of its tightening cycle and this is resulting in unwinding of… read more
Australian FOREX Daily Outlook 16/12/2005
December 16, 2005MARKET SUMMARY – 16/12/05(03.00GMT) The Dollar was stronger against the major currencies overnight with the exception of the Japanese yen. Data released overnight suggest that core inflation remains tame and manufacturing activity continues to signal strength. Hurricane distortions continued to influence the US CPI in November. The headline CPI fell… read more
Australian FOREX Daily Outlook 15/12/2005
December 15, 2005MARKET SUMMARY – 15/12/05(03.00GMT) The Dollar recorded its largest one day drop against the Japanese yen since March 2002. The dollar strengthened slightly against the other majors overnight. Surprisingly there was little reaction to the US trade deficit which rose by US$2.89 billion to a record US$68.89 billion in October…. read more
Australian FOREX Daily Outlook 14/12/2005
December 14, 2005MARKET SUMMARY – 14/12/05(03.00GMT) The Dollar failed to move decisively higher or lower against the major currencies in response to the Fed rate decision. In the end the dollar was largely unchanged against major currencies. The US Federal Reserve raised the federal funds rate by 25 basis points to 4.25%…. read more
Australian FOREX Daily Outlook 13/12/2005
December 13, 2005MARKET SUMMARY – 13/12/05(03.00GMT) The Dollar weakened against major currencies overnight on concerns the Federal Reserve may signal after its meeting on Tuesday that U.S. interest rates, which have largely supported the U.S. currency this year, are getting near a top. There is more uncertainty than usual over the accompanying… read more
Australian FOREX Daily Outlook 12/12/2005
December 12, 2005MARKET SUMMARY – 12/12/05(03.00GMT) The Dollar traded down against the major currencies on Friday night despite stronger than expected US consumer sentiment data. The University of Michigan preliminary hearing was posted at 88.7 for December, up from 81.6 the previous month and above the expectation of 85.0. The level is… read more
Australian FOREX Daily Outlook 9/12/2005
December 9, 2005MARKET SUMMARY – 09/12/05(03.00GMT) The Dollar fell sharply against the major currencies in overnight trade. The dollar fell on comments by European and Japanese central bank officials that suggested interest rates in those areas could rise next year. US sharemarkets eased overnight, dragged lower by General Motors and Intel. The… read more
Australian FOREX Daily Outlook 8/12/2005
December 8, 2005MARKET SUMMARY – 08/12/05(03.00GMT) The Dollar was moderately firmer against the major currencies overnight. At the absence of first tier data, it seems to be a continuation of positive dollar sentiment. Economic data was limited to weekly mortgage applications purchase index, which was stronger than expected, and the Fed’s consumer… read more
Australian FOREX Daily Outlook 7/12/2005
December 7, 2005MARKET SUMMARY – 07/12/05(03.00GMT) The Dollar weakened slightly against the major currencies overnight as it failed to react to the latest economic data. US sharemarkets rose after stronger-than-expected productivity data eased inflationary concerns. US non-farm productivity for the September quarter was revised higher to 4.7% from the earlier reported 4.1%…. read more
