Australia Australian Employment numbers out today at 11:30. An expected figure of 9,700, should it come in stronger could see the AUD/USD test the all-important 0.7750 resistance which might force the pair out of its February range. Short term Traders who have sat short AUD/USD would not have like the… 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
February 15, 2017Janet Yellen’s scripted testimony to Washington’s Congress overnight reiterated a hawkish tone from the Fed Chair, raising the probability of a March rate hike to 23% during trade. Yellen set the markets expectation for three rate hikes this year and pointed to rising inflation and moderate economic growth as the… read more
Daily Outlook
February 14, 2017Equities had another positive session overnight. The trump trade is back, for now. The S&P500 has rallied 9% since Trumps election in November, and recent tax breaks for business has sparked the markets momentum. Slow global economic improvements have seen equities worldwide move higher, European markets advancing overnight, reaching 2… read more
Daily Outlook
February 13, 2017Friday & Weekend Recap: The U.S. markets reacted to Trumps tax promises, reaching new highs in the Dow, S&P500, Nasdaq Composite, and joining the party, the Russell 2000 Index. Expect markets to also embrace any Trump talk on deregulation, part of his suite of presidential campaign promises. U.S. Dollar Index… read more
Daily Outlook
February 10, 2017Trump Tax Cuts Donald trump attempted to help markets break out of their US Policy/EU uncertainty range overnight after promising a “phenomenal” tax plan in the coming weeks. This pushed the S&P500, Dow Jones and Nasdaq to all-time highs and also saw a broad based U.S. dollar rally. USD/JPY punched… read more
Daily Outlook
February 9, 2017Overnight A quiet night on the stocks front overnight, with European and US markets relatively quiet. The biggest mover being the FTSE with a 0.58% move. Overnight marks the S&Ps 37th straight day without a 1% trading range. As always these sideways moves draw headlines of impending volatility, having lured… read more
Daily Outlook
February 8, 2017Yesterday saw the RBA leave the cash rate on hold at 1. 5%. The statement noted economic growth is expected to rebound in the December quarter and reach 3% in the coming years. After a stellar performance by commodities in 2016 and an Aussie dollar which has settled around the… read more
Daily Outlook
February 7, 2017Australia A busy week for the Australian market with all eyes on today’s RBA Cash Rate and Statement at 2:30PM (AEDT). Recent figures would suggest the RBA should retain their hold/easing bias – a shocking GDP figure from Q3, plus weak annualised core CPI of 1.6% (well outside of the… read more
Daily Outlook
February 6, 2017Non Farm Payrolls Friday night saw NFP figures released, printing 227K Vs 175K expectation. A higher participation rate saw unemployment tick up to 4.8% – generally seen as a ‘good’ reason for an unemployment increase. A 0.2% lower than expected ave hourly earnings overshadowed the strong headline. The Feds focus… read more
Daily Outlook
February 3, 2017Fears as to whether the Trump Administration will prioritize tax cuts and boost fiscal spending, saw the U.S. dollar fall to two month lows across major currencies. Dollar Yen fell 0.6 percent to 112.56 after reaching a session low of 112.48. At this stage it appears to be trading a… read more
