Friday nights Non-Farm payrolls outperformed, with a 211K employment change, and a lower unemployment rate of 4.4%, both beating market expectations. Ave hourly earnings also stable at 0.3%. Nasdaq and S&P500 hit new all-time highs, with the DOW briefly trading above the 21,000 level. Macron beat LePen in a landslide… 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.
Daily Outlook
May 5, 2017Commodity prices continued to decline during the US trading session with oil falling nearly 5%, hitting a six month low worries of oversupply and slowing demand in China. Copper (-4.75%) and Silver also down in the session. Iron ore suffering the same fate, trading recent lows with further losses expected…. read more
Daily Outlook
May 4, 2017This morning the Fed kept rates unchanged as it flagged a current ‘transition’ period. It shrugged off 0.7% first quarter growth and stated inflation will stabilise around 2% over the medium term. A June rate hike is widely expected, with a 75% probability. In breaking US news, it has been… read more
Daily Outlook
May 3, 2017The Reserve Bank of Australia left interest rates on hold as expected. In the policy statement, Governor Philip Lowe again expressed concerns over the level of household debt which would indicate that rates will unlikely head lower unless a shock to the economy occurs. The Aussie rallied to an intraday… read more
Daily Outlook
May 1, 2017A huge week of economic announcements in markets this week, starting tonight with Treasury Secretary Mnuchin speaking at 9:45pm. US, China and UK PMI’s all out tomorrow, NZ Employment figures out Wednesday, Crude Oil Inventories & FOMC Statement on Thursday, and US Non Farm Payroll figures out on Friday night,… read more
Daily Outlook
April 28, 2017ECB held interest rates at 0% overnight. President Mario Draghi stating downside risks had diminished and economic recovery improving. Inflation remains subdued however, and Draghi dodged questions around French election questions. The EUR/USD moved on Draghi’s comments, struggling to break 1.095 and trading in an 80pip range. The Euro has… read more
Daily Outlook
April 27, 2017US equities ended the session basically flat, after Trump released his tax plan. As expected, the proposal lacked detail. A bullet point page outlined a reduction to the corporate tax rate to 15 percent from 35 percent, and a ‘one time tax’ on monies held by corporates offshore. No border… read more
Daily Outlook
April 26, 2017A general risk on sentiment in markets this week seeing a bid after a lack of negative news from the French elections, quiet news on the geopolitical front, expectations of Trumps tax plans, and the ECB (press conference on Thursday nights @ 10:30pm) expected to drop its reference to Eurozone… read more
Daily Outlook
April 25, 2017Quiet Asian Session with Australia away for Anzac holiday Overnight we saw the surge in EUR/USD and USD/JPY pull back under the pressure of profit taking but the outlook still remains higher for both. Traders are looking ahead at 3 risk events in coming days. Firstly today we have North… read more
Daily Outlook
April 24, 2017With over 95% of votes counted Macron has won the first round of French elections, with a 23.85% vs 21.58% win over Le Pen. Polls expect an easy win for Macron in the second and final round of voting on May 7. EUR/USD gapped open 200 pips this morning reaching… read more
