AUD/NZD strength may continue following the 250 pip rally at back end of last week as poor New Zealand trade balance data this morning missed forecasts by 530m. Details for this depict Milk powder exports fell to their lowest level since August 2009 as both China and the United Arab… 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
September 22, 2016The FED held rates at 0.5% in a widely anticipated result at the FOMC meeting overnight. Janet Yellen did make it clear that further rate hikes this year were expected by the majority of members however. Also 3 members dissented and wanted to raise in September. The result was USD… read more
Daily Outlook
September 21, 2016AUD/USD is steady at 0.7550 as we head into a huge 24 hours for the market. 3 central bank meeting are scheduled starting with the BOJ in the Asian afternoon and the US FOMC later tonight. We finish with the RBNZ tomorrow morning. The BOJ is the only live… read more
Daily Outlook
September 20, 2016AUD/USD bounced higher Monday and hit day highs at 0.7570 before reversing lower to 0.7540 later in US session. September RBA minutes released today were uninspiring as the RBA remains firmly on hold and really the market is looking to the FED for new big AUD/USD move. The FED and… read more
Daily Outlook
September 19, 2016Broad USD Strength was seen Friday as Inflation ticked higher and chances of a hawkish FED at the coming meeting on Wednesday increased. Whilst the market is only pricing in a 20% chance of a hike at September’s meeting there is a strong chance of Yellen talking up the need… read more
Daily Outlook
September 16, 2016AUD/USD remains on the back foot with the August employment report dipping into the negative -3.9k for the first time since February. The Unemployment Rate ticked lower to 5.6% vs 5.7% and this allowed the AUD/USD to bounce after the initial drop to 0.7450. The internals of the numbers… read more
Daily Outlook
September 15, 2016AUD/USD remains on the back foot with the August employment report dipping into the negative -3.9k for the first time since February. The Unemployment Rate ticked lower to 5.6% vs 5.7% and this allowed the AUD/USD to bounce after the initial drop to 0.7450. The internals of the… read more
Daily Outlook
September 14, 2016AUD/USD finally broke through key support at 0.7500 overnight giving into USD strength as global bond markets sell off. The effect of falling bonds is to spike yields higher and this is especially negative for carry trades. Carry trades are the high interest FX pairs such as AUD/USD long… read more
Daily Outlook
September 9, 2016AUD/USD hit fresh multi-week highs above 0.7730 but reversed sharply lower later in the later US session as global bond yields surged unexpectedly higher. AUD/USD crashed back through 0.7700 all the way to 0.7635 as the bond market turmoil made its biggest impact against the high yielding currencies. The… read more
Daily Outlook
September 8, 2016AUD/USD tested 0.7700 overnight but failed to break above as the rally stalled and we reversed gently back to 0.7670. The outlook is strong but the USD weakness seen post ISM Services Data on Tuesday took a breather in the US session against most pairs and this capped the Aussie’s… read more
