AUD/USD came under pressure yesterday as the Yuan continued to strengthen and the USD enjoyed solid gains across the board on continued speculation the FED was moving closer to a December/November rate hike. AUD/NZD trend continues as overnight levels reached the two month high of 1.07 before closing at… 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
October 11, 2016Global sentiment overnight was controlled by rumours around the upcoming OPEC deal. At the World Energy Congress in Istanbul, the world’s largest oil producers, Russia and the Saudi Arabia, reinforced their willingness to cut production in an attempt for higher prices. The Saudi Oil Minister was optimistic and referenced non-OPEC… read more
Daily Outlook
October 10, 2016A weak non-farm payroll softened the USD slightly but did little to impact December Interest rate hike chances. Labour statistics in September showed +156k new jobs were created with an unemployment rate at 5%. Governor Fischer, vice chairmen of the Fed, defended the decision not to raise rates last month… read more
Daily Outlook
October 7, 2016AUD/USD broke below 0.7600 yesterday as broad USD strength continued unabated for the 4th day this week. Strong Oil back above $50 did little support the Aussie with Gold continuing to crash lower down to $1250. The market is looking forward to the US NonFarm Payrolls tonight with expectations… read more
Daily Outlook
October 7, 2016AUD/NZD outlook remains positive as RBNZ rate cute expectations solidify combined with RBA cuts dissipating. Technically, short term moving averages point higher as Wednesdays peak of 1.0635 rebounded off the mid September 1.0237. The August high of 1.0654 remains the next target. Inflation data for both currencies remains key to… read more
Daily Outlook
October 5, 2016Gold collapsed $40/oz after it broke the key support level of $1300 amid hawkish rumours that the ECB was going to begin tapering. Although finding support at 1268.40 short term momentum trading could still yield further losses as stop losses and traders are margin called. This sharp movement helped pressure… read more
Daily Outlook
October 3, 2016Market sentiment reversed sharply on Friday with Deutsche Bank rallying 15% on rumors of a substantially reduced settlement number with the US Department of Justice. There is likely to be more headlines in coming days with the story far from over but for now risk is firmly on. Monday has… read more
Daily Outlook
September 30, 2016U.S stocks retreated among Deutsche Bank troubles generating a shift to risk off trading. Fear that woes would spread throughout the financial sector saw the DAX drop 300 pips and the S&P slip 0.9% evaporating the gains made by from the OPEC agreement. Risk aversion saw JPY gain against… read more
Daily Outlook
September 29, 2016OPEC reached a deal to cut output for the first time since 2008 as to manage market prices were made at the formal meeting in Algiers. The agreement was possible because Iran will be exempt from capping production, a major concession by Saudi Arabia. Full details will be determined for… read more
Daily Outlook
September 27, 2016The first Presidential Debate has taken most of the headlines today and consequently wounded global stock markets in particular the S&P, Dax, and FTSE. Impact is a pull back for the Aussie across multiple markets, and an opening 0.5% down vs JPY as Asian investors look to assess risk across… read more
