Sharp spike on EUR/USD as stop above 1.0500 in low liquidity saw the single currency spike to 1.0650. USD/JPY held Y116 however and has led a USD rebound since. GBP/USD held 1.2300 test as EUR/GBP buying capped cable. Time will tell if the USD pullback is over or… 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
December 29, 2016A sharp reversal in the Dow from just a few points under 20000 to 19840 for the biggest fall in the Dow since October. The risk off trade mainly attributed to profit taking did have an impact in FX markets with the safe haven Yen getting demand. USD/JPY reversed below… read more
Daily Outlook
December 28, 2016The ASX moved 1% higher into the final week of trade in 2016 looking to close near the 5700 level. Optimism about 2017 and a fall AUD are both supporting the bull case for Australian shares. The US Dow failed to get above 20000 however with the elusive target failing… read more
Daily Outlook
December 27, 2016Very quiet post Christmas Holiday markets have resulted in only small FX movement and most commodities and Stock markets have been closed. Some USD strength against the GBP and AUD have been noted as the down trends in GBP/USD and AUD/USD continue. Commodities and some European Stock markets are open… read more
Daily Outlook
December 23, 2016AUD/USD tested 0.7200 for fresh cycle lows as selling continued into the year end. AUD/JPY selling and EUR/AUD buying the main catalyst. Concern about the Australian economy in 2017 is intensifying. US Stocks fell back slightly for a 2nd day as 20000 proved too big a barrier into Christmas. Still… read more
Daily Outlook
December 22, 2016Dow watchers were disappointed against as the market stalled at 19990 in quiet pre Christmas trade. The USD was mixed with some weakness against the major with USD/JPY pulling back and EUR/USD making small gains. The dollar was stronger however against GBP AUD and NZD with all 3… read more
Daily Outlook
December 21, 2016Traders continued to buy the USD on dips yesterday with EUR/USD touching new trend lows at 1.0350. GBP/USD was under a lot of pressure as stops were hit on a break below 1.2400. AUD/USD was dragged to fresh multi month lows 0.7220 before rebounding to 0.7270. NZD/USD has broken below… read more
Daily Outlook
December 20, 2016Traders continued to buy the USD on dips yesterday with EUR/USD touching new trend lows at 1.0350. GBP/USD was under a lot of pressure as stops were hit on a break below 1.2400. AUD/USD was dragged to fresh multi month lows 0.7220 before rebounding to 0.7270. NZD/USD has broken… read more
Daily Outlook
December 19, 2016There was a pause in the 14 year high rally of the greenback on Friday as the market saw profit taking from long dollar traders. The U.S. dollar has surged this week after the Federal Reserve signaled it could raise interest-rates three times next year instead of twice as previously… read more
Daily Outlook
December 16, 2016The greenback rose to its highest level in 14 years last night battering emerging-market currencies and pushing the euro closer to parity after the U.S. Federal Reserve signaled that it expects to raise interest rates quicker than previously anticipated. The euro tumbled to its lowest level against the U.S. dollar… read more
