The Australian Dollar grinded higher to 0.7560 off the back of soaring Oil prices. Oil has rallied more than 6%, driven by lower US output and hope OPEC meeting on 17 April can reach freeze output agreement. The sentiment on OPEC agreement does change day to day and likely to… 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.
EU Bullet Report | Sayonara JPY
April 8, 2016It’s the last trading day of this week, which has been mostly all about USD weakness, range trading in OIL and wild swings in GOLD. JPY has been the strongest currency of the week, followed by CHF and then USD. Currencies: JPY strength is not stopping against USD, with… read more
Daily Outlook
April 8, 2016The Australian dollar has weakened significantly this month, sliding from its 2016 high of 0.77220 to a new week low of 0.74935, having since retraced to the 0.7528 level. Weakness in the dollar may be attributed to risk-off sentiment driving capital flows to safe haven currencies such as the Japanese… read more
Daily Outlook
April 7, 2016US equities posted gains overnight as the Federal Reserve released meeting minutes while oil surged. The March FOMC minutes raised concerns of some Fed members, believing a rate hike in April would indicate an inappropriate sense of urgency. Members noted global disinflationary pressures continue to pose downside risks to the… read more
Daily Outlook
April 6, 2016The Australian Dollar has continued to grind lower as the market digests the Reserve Bank of Australia’s announcement yesterday. Monetary policy rates remained on hold as RBA Governor Glenn Stevens cited uncertainty remains in the outlook of the global economy. Although recent data suggests advanced economies have recorded recent improvements… read more
Daily Outlook
April 5, 2016Today the main focus will be on the RBA’s interest rate decision at 2:30pm. As the cash rate is expected to remain the same, investors are keeping an eye on the Stevens’ commentary that could address the current economic conditions and whether RBA is concerned about the higher level of… read more
Daily Outlook
April 4, 2016The Australian dollar continues to hold as Friday’s much anticipated NFP result failed to reignite US dollar strength. Despite Average hourly earnings and Non-farm employment change beating expectations, the unemployment rate rose to 5.0% (an increase of 0.1%). US Manufacturing also outperformed market expectations. This was not enough to suppress… read more
Daily Outlook
April 1, 2016All eyes are on the US employment data to be released tonight, which will provide further guidance on the economic condition in the US. The downside pressure on the USD continues after FED’s Yellen speech on Wednesday. With her talk suggesting rates to remain low for an extended period of… read more
Daily Outlook
March 31, 2016US dollar weakness continued overnight, as Yellen’s dovishness sent ripples through the market. Wednesday morning saw Federal Reserve Chair Janet Yellen raise concern over the global growth outlook and uncertainty in commodity prices acting as headwinds to the US economy. Fed President Evans echoed Yellen’s concern, citing risks for the… read more
Daily Outlook
March 30, 2016US dollar weakness and commodity price uncertainty plagued the market overnight. The US dollar weakened against major pairs off the back of comments from the highly anticipated Federal Reserve Chair Yellen’s speech in the early hours of the morning. Yellen cited central banker caution in approaching normalizing monetary policy as… read more
