OIL/USD Broke above the key $50 a barrel level yesterday and this helped propel the Commodity Currency complex higher. (Australian Dollar, New Zealand Dollar, Canadian Dollar) The Australian Dollar was already on the front foot as the bar was raised for the RBA to cut interest rates further in… 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
June 6, 2016US May employment data on Friday night shocked the market, printing only 38k new jobs, well below 160k forecast and lower than even the most pessimistic forecast. The 38k print is the lowest since September 2010. Adding to injury, prior two months was revised 59k less than previously reported which… read more
Daily Outlook
June 3, 2016Brent Oil hit the seven-month high settling above $50/barrel after the drawdown in US crude stockpiles offset the impact of OPEC’s failure to set a new output target. Brent closed at its highest level since last November and WTI crude for July rose 0.3% to $49.17, also recovering from an… read more
All eyes on ECB Rate decision today
June 2, 2016Today’s main focus shifts to ECB rate decision. ECB is expected to keep rates unchanged and not signal further easing ahead. In the US, traders will be focusing on 2 FED member speeches to clues as to when a rate hike is more probable. Trade Currencies: USDJPY dropped to… read more
GBPUSD tanks as polls show Brexit, NFP next
June 1, 2016The main focus today will be on US ISM for May, In the EU we have significant PMI data to be released. It has been a mixed session in Asia as markets are on standby mode ahead of Thursday’s EECB rate decision and US NFP on Friday. Trade Currencies:… read more
Daily Outlook
May 31, 2016Gold has hit the three-month low as US rate hike looms. Yellen’s hawkish speech on Friday indicated that the Fed should increase interest rate in the coming months if the economy picks up, supporting the case for a rate hike in June or July. Gold price on Monday fell below… read more
Daily Outlook
May 27, 2016The Australian Dollar is consolidating around the 72cents mark, trading 0.7160-0.7243 past 24 hours with latest capex data disappointing and USD profit taking overnight. It has been a remarkable month for the AUD, lower by 5% or 4 cents as the change in sentiment was swift after the RBA decided… read more
Daily Outlook
May 26, 2016Soybean meal July futures rose 4.86% overnight to new yearly high at 407.80USD, posting 21.8% May gain. Production issues in key soybean producing countries, Argentina and Brazil, drove the price higher in the past months. Unfavourable rain forecast in the U.S. plains grain belt added to the supply concern overnight…. read more
Daily Outlook
May 25, 2016The Australian Dollar is trading lower after RBA’s Governor Stevens remarks over inflation targeting but it was supported by risk sentiment overnight. The AUD started selling on Glenn Stevens’ Q&A session yesterday as the market interpreted his remarks as dovish and provided hints for further rate cuts, with his commitment… read more
Bullet Report
May 24, 2016Despite a very thin calendar, the market was relatively volatile yesterday, and in favour of the USD. Catalyst for the strength in the Dollar was the evident support from FOMC members in favour for a rate hike sooner than the market expected. On the data front, German ZEW economic sentiment… read more
