MARKET SUMMARY – 07/11/05(03.00GMT) The Dollar dipped briefly after the payrolls data, but soon reversed and strengthened significantly against all the majors. US non-farm payrolls rose by 56,000 in October, well short of expectations which were looking for a rise of approximately 100,000. There were also 36,000 fewer jobs created… 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 Oulook 04/11/2005
November 4, 2005MARKET SUMMARY – 04/11/05(03.00GMT) The Dollar rose against the majors overnight following Alan Greenspan’s testimony, which confirmed the strength of the US economy. Greenspan said that US economic fundamentals remain firm the economy maintains important forwards momentum the hurricanes will only have a temporary impact. However, he did add: “More… read more
Australian FOREX Daily Oulook 03/11/2005
November 3, 2005MARKET SUMMARY – 03/11/05(03.00GMT) The Dollar was mixed against the major currencies overnight. The dollar was weaker against the European currencies, mainly on speculation that the European Central Bank would be much more hawkish at Thursday’s monetary policy meeting. However, the dollar was slightly firmer versus Asian currencies suck as… read more
Australian FOREX Daily Oulook 01/11/2005
November 1, 2005MARKET SUMMARY – 01/11/05 (03.00GMT) The Dollar followed on from Friday and continued to rally against all the majors. The reason for dollar extending its gain was due to more robust economic data, signally that the Federal Reserve will continue to increase rates in the future. US personal spending increased… read more
Australian FOREX Daily Oulook 31/10/2005
October 31, 2005MARKET SUMMARY – 31/10/05(03.30GMT) The Dollar rallied against the majors on Friday night, following stronger than expected US GDP data. Third quarter GDP rose 3.8 percent, above analysts forecasts for 3.6 percent growth. Analysts are suggesting that with a combination of solid data and what looks to be increasing price… read more
Australian FOREX Daily Oulook 25/10/2005
October 25, 2005MARKET SUMMARY – 25/10/05 The Dollar had little reaction overnight to the news that US President George Bush has named Ben Bernanke to succeed Alan Greenspan as chairman of the Federal Reserve. The share market reacted very positively with its biggest daily gain since April 21. The greenback reaction was… read more
Australian FOREX Daily Oulook 24/10/2005
October 24, 2005MARKET SUMMARY – 20/10/05 The Dollar rose against all major currencies on Friday. The move was largely a result of a buying spree that hit on the London close. What motivated the buying, remains unclear given no major data was released in the States on the Friday. Some dealers and… read more
Australian FOREX Daily Oulook 21/10/2005
October 21, 2005MARKET SUMMARY – 20/10/05 The Dollar weakened slightly against major currencies in overnight trade. Stronger than expected economic data in the US was not enough to boost the dollar. The Philadelphia Fed business index rebounded in October to 17.3 above Wall Street’s expectations of 10.0 and up from September’s 2.2…. read more
Australian FOREX Daily Oulook 19/10/2005
October 20, 2005MARKET SUMMARY Dollar firmed against all the majors following the better than expected US producer price index. The US producer price index rose by 1.9pct in September, the largest rise in 15 years.The initial move was quite sharp as market bought dollars against all majors, however on closer examination the… read more
Australian FOREX Daily Oulook 20/10/2005
October 20, 2005MARKET SUMMARY – 20/10/05 The Dollar hit multi-month highs against major currencies in early European trader. This move was purely stop-loss driven as it came well before any US economic data release. The dollar then retreated across the board despite a barrage of hawkish comments by Federal Reserve officials. The… read more
