AUD/USD is quietly waiting for a catalyst for its next move with the commodity currency currently sitting right in the middle of its recent 0.7700-7500 range at 0.7600 in early Asian trade. Traders hoping for inspiration from the RBA at 2:30pm AEST time are likely to be disappointed with… 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 5, 2016AUD/USD broke above 0.7600 briefly on Friday after softer than forecast US NFP report for August. The US created 151k jobs vs. 180k forecast and the wage growth was also a little weak at 0.1% vs. 0.2% m/m. Importantly though the USD selloff was very short-lived and we saw… read more
Daily Outlook
September 1, 2016US rate hike fever continues to be the main theme of the markets. The USD extended gain as US economic data underpins rate-hike expectations. ADP NFP report released yesterday read 177K, beating the expectation 174K with July data revised from 179K to 194K. The better-than-expected precursor report hinted a strong labour… read more
Daily Outlook
August 31, 2016The USD/JPY rose to the highest in more than two weeks after the Federal Reserve officials spurred bets that the US central bank will increase interest rates as soon as next month. Additionally, US consumer confidence spiked higher in August. The USD strength pushed AUD/USD down to 0.75, even though Australia… read more
Daily Outlook
August 29, 2016US Fed Chair Yellen and Vice Chair Fischer signalled a potential interest rate rise as soon as next month at the Jackson Hole Symposium. Yellen opened the door for the coming rate-hiking, ‘I believe the case for an increase in the federal funds rate has strengthened in recent months’. Fischer… read more
Daily Outlook
August 26, 2016Commodities were performing better, allowing for the Aussie to remain resilient above 0.7620 in a subdued session ahead of key events in the US. All eyes remain on Jackson Hole Symposium, where Fed’s Chairwoman Yellen will have a speech ahead of September’s FOMC meeting. Markets will get more volatile at… read more
Daily Outlook
August 25, 2016AUDUSD has been quiet but stable hovering around the 0.7600 level. The dip of the Aussie in the Asia session Wednesday mainly came from the disappointment of Australian construction data, which was a key factor weighing on the pair and restricted any rally with the other majors. In absence of… read more
Daily Outlook
August 24, 2016AUD/USD continued to trade gently yesterday in a tight 0.9620-50 range. With little economic data this week the market is looking forward to FED’s Yellen Jackson Hole Speech as main catalyst for the next bout of AUD/USD movement. With September FOMC Rate hike odds only at 24% the potential… read more
Daily Outlook
August 22, 2016Traders eye Yellen’s Jackson Hole Speech U.S. Dollar Trading (USD) the USD has been under pressure via the USD/JPY selling and the beginning’s of a EUR/USD rally. The main catalyst has been a dovish shift by the market towards the FED’s willingness to raise rate’s this year. Interbank bond yields… read more
Daily Outlook
August 19, 2016AUDUSD tipped above 0.7700 once again on the back of a weak USD in the aftermath of the July FOMC meeting minutes and a decent job report in Australia. The report shows unemployment rate down to 5.7%, beating expectation 5.8%. Total number of new jobs created increased 26,200, well… read more
