The Australian Dollar closed tight on 0.7400 after trading in a … range between 0.7418 resistance and 0.7311 support as sellers were squeezed among likely profit taking. Impressive US home sales data was offset by a surge in base metal prices led by iron ore. The pair seems glued to… 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
November 21, 2016A pullback in base metals and weakness on AXJ currencies saw the Australian dollar continue its decline vs USD as it heads towards major support bases at 0.7305 and 0.7286. After Friday slides vs the Kiwi led to a 1.2% weekly loss, a bounce in early Asia heads towards 1.0490… read more
Daily Outlook
November 18, 2016The Australian Dollar crashed to 0.74050 vs USD as a trifecta of a steepening US yield curve, Dollar index gains, and strong US data overnight. The technical remain bearish with the RSI balanced strictly lower as no data is likely to overturn the fall. AUD/NZD favours a downtrend as a… read more
Daily Outlook
November 16, 2016Oil rose almost 6% last night extending to 45.98 as OPEC secretary general Barkindo begins trips to Iran, Venezuela, and Ecuador, in the lead up to the official OPEC meeting on the 30th November, as Russia and Saudi Arabia scheduled informal talks in Doha. From yesterday’s low of 42.20 it… read more
Daily Outlook
November 14, 2016Iron Ore gains of 2% cushioned the Australian Dollar from falling on Friday but downside momentum continues, as the aggressive selloff is likely to continue amid the USD resurgence. Technical support of 0.7525 remains the first target for shorts in attempt for 0.7500. A powerful magnitude 7.5 earthquake struck… read more
Daily Outlook
November 10, 2016Trump’s against the odds victory yesterday sent markets haywire before a large retracement saw stock markets finish higher for the day amid promises of lower corporate tax and increased fiscal spending. The Dow Jones fell 800 points before miraculously making a dramatic comeback to finish up 1.4% whilst the S&P… read more
Daily Outlook
November 9, 2016The US election has been the fundamental event controlling sentiment the past few weeks and the day of results has finally arrived. A Clinton victory will see a large amount of US dollar strength with the markets most likely to move including Gold, Mexican Peso, and Stock Markets. Since the… read more
Daily Outlook
November 8, 2016Market sentiment shifted towards risk on following yesterday’s news the FBI will not prosecute Hillary Clinton as US stock markets broke 9 consecutive days of falls. The S&P erased most of last week’s decline finishing at 2131 having opened 2110 as the Dow Jones surged more than 350 points in… read more
Daily Outlook
November 7, 2016Seven days after the Hillary Clinton email saga began for a second time, FBI director Comey announced that no action will be warranted after clearing a further 650,000 emails. This combined a strong 24 hours from the Clinton Campaign as the news she won’t be prosecuted is combined with NBC… read more
Daily Outlook
November 4, 2016The US election continues to drive market sentiment generating safe haven demand as risk continues to weigh causing a negative setup for a number of Australian Dollar crosses. AUD/JPY has settled down after recovering some of yesterday’s losses opened in a tight range at 79.000. Despite bearish momentum it remains… read more
