Traders on Thursday will have two big events to focus on. The ECB will hold its rate decision meeting followed by Mario Draghi’s press conference which also sparks volatility. And not long after from the US we will have initial jobless claim also. The US earnings calendar is packed full… 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
April 21, 2016Crude oil draws the most attention in the market overnight by fully recovering from the pullback in Asian session and reaching a four-month high. The reverse from downtrend started in late European session and the rise went wild throughout the whole NY session. WTI surged to above $44/barrel, the four-month… read more
Bullet Report
April 20, 2016This week, the dollar started with a negative bias as the failed Doha meeting on oil production cuts triggered a risk-off trade in Asia.The US dollar continued to weaken head of the Fed meeting next week and this week’s ECB press conference is also of interest to traders. Oil… read more
Daily Outlook
April 20, 2016The market has been favoring risk-correlated assets over the past few weeks. The breakdown at Doha meeting and the global growth warning from IMF had little impact on risk sentiment. A broad-based rally in commodity market was the theme last night. Crude oil hits $42.8 high on its upward trend… read more
Daily Outlook
April 19, 2016Monday started with risk off sentiment after Doha meeting failed to reach any agreement with OIL, commodities currencies and equities all gapped down. The reversal was swift with European and US market seeing the pullback as opportunities to buy. S&P500 made new 2016 high, finished up 0.65% and the Dow… read more
Daily Outlook
April 18, 2016All eyes were on the Doha meeting over the weekend. OPEC and non-OPEC ministers failed to reach an agreement to limit/freeze oil production at January levels. Without Iran’s attendance, Saudi Arabia refused to cooperate to cap production, demanding commitments from all major producers before committing themselves. Following this failure to… read more
Daily Outlook
April 15, 2016OIL Special, on Doha Meeting: Key Oil producing countries are meeting at Doha on 17 April to discuss production freeze to reduce the extent of global oil oversupply. This follows from 16 February Doha meeting between Qatar, Saudi Arabia, Russia and Venezuela setting up a proposal to freeze oil output…. read more
Daily Outlook
April 14, 2016Global equities markets are in euphoria as the S&P500 hit a new 2016 high. China’s March exports of 18.7% was welcomed by the market, settling nervousness over China’s outlook. Asian equity markets were first to react, with the Hang Seng Index and Nikkei up 3.2% and 3% respectively, one of… read more
Daily Outlook
April 13, 2016The Australian Dollar pushed above 0.7680 supported by strong business confidence, commodities prices and renewed risk appetite. The market pricing for RBA’s May cut has decreased from 40% on Monday to 27% since business condition survey recorded highest level in 8 years. Australia’s largest exports iron ore is up 9%… read more
Daily Outlook
April 12, 2016Currencies: the hottest topic is the relentless strength of the JPY with not much stopping the course of it with the BoJ meeting only coming up at the end of April. When Japan intervened in the FX markets in 2011, USD/JPY was trading below 80 and the coordinated intervention on… read more
