RBA left rates on hold at 1.5%, citing low inflation, Chinese growth and a two-speed economy as supporting reasons to stay on course with record low rates. RBA Governor Lowe expressed concerns overnight about home loaning criteria, as a lot of borrowers have skinny income buffers. He noted household debt… 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
April 4, 2017RBA day today, with the rates and minutes release at 2:30pm. Expectations are for the bank to remain on hold at 1.50%, due to the balancing act of low inflation, a two-speed economy and a housing unaffordability crisis on the eastern seaboard. It’s likely the bank will wait until May… read more
Daily Outlook
March 31, 2017Daily Outlook – Friday 31st March Written by Paul Clifford Attachments: Reuters ASIA FX, ANZ NZ Morning Focus WTI Crude Oil traded through, and held, the $50 level. Currently trading 50.51. US inventory tightening and supply disruptions in Libya have boosted the commodity. OPEC supply cut discussions should be monitored… read more
Daily Outlook
March 30, 2017GBP/USD was the biggest mover in the early Asia session jitters yesterday, falling below 1.2462 to a low of 1.2376 ahead the UK delivering signed Article 50 letter to the EU. Still, the currency is only 50 pips down from Monday’s open of 1.2489, and is currently trading around the… read more
Daily Outlook
March 29, 2017Overnight saw the Dollar Index trade up from 98.9 to 99.59, the index is up around 0.8% since Tuesday morning, bouncing off a 4-month low. The strongest Consumer Confidence, 125.6, in 17 years out of the US overnight smashed expectations, this drove the Dow (+0.73%) and S&P500 (+0.73%) up, reversing… read more
Daily Outlook
March 28, 2017On Wednesday Theresa May will announce to Parliament that Article 50 has been triggered. Article 50 will be handed over on Wednesday at 11:30pm (AEDT) to EU council president Donald Tusk, who then has 48 hours to reply, which indicates the start of an 18-month negotiation period on Britain’s exit… read more
Daily Outlook
March 27, 2017The end of the trading week saw President Donald Trumps first real campaign promise defeat, as his republican health care legislation was pulled after a lack of support. Obamacare remains in place. Trump has promised to move directly on to his tax plans. US markets moves were choppy on the… read more
Daily Outlook
March 24, 2017Generally FX market moves were muted as the Health Care vote put traders on hold. The Aussie was the worst performing G10 currency overnight, falling 0.7% to a low of 0.7622 during the session. The Yen consolidated recent down moves, currently trading around the 111 level, it’s direction not helped… read more
Daily Outlook
March 23, 2017Some consolidation and slight pullbacks overnight in US equities as traders await tomorrows vote in Washington on Trumps Healthcare reform plan. The vote is expected to take place during the Asian session, no time confirmed. The VIX moved slightly higher, currently trading 12.7 after Wednesday’s low of 11.2, consolidating a… read more
Daily Outlook
March 22, 2017Is the Trump trade finally over? General risk off overnight saw the DOW and S&P500 experience greater than 1.1% sell offs, with the Australian ASX200 selling off below the 5,700 level during this morning’s trading. The VIX rallied almost 10% and the US dollar index touched early February levels, breaking… read more
