The growing disappointment with the third quarter earnings season overshadowed data showing a bigger-than-expected rise in September new home sales to a two-year high.

Also weighing on sentiment was the latest Fed meeting in which Ben Bernanke warned hiring growth was slow and the US economy was improving only modestly.

In the currency space, the US dollar managed a modest gain against the euro following a shock slump in German business confidence and a worrying PMI reading out of the eurozone.

The Aussie dollar was a bright spot, rising 0.7% to US$1.0338 after yesterday’s September quarter inflation reading reduced the odds of an RBA rate cut next month.

Elsewhere, the Canadian dollar came under pressure against the greenback after the Bank of Canada’s governor hosed down speculation of an imminent rate hike.

Currency Trading Commentary: 25th October is a post from: Australian Stock Report Forex Trading News

The euro climbed 0.2% to US$1.3056 after a local election in Spain allowed the Prime Minister’s party to hang onto power, easing tensions in the troubled eurozone nation.

Elsewhere, the yen suffered major falls against the kiwi and greenback following yesterday’s disastrous export data out of Japan and speculation its central bank could expand monetary easing measures.

Our dollar was flat against its US counterpart, as traders await tomorrow’s September quarter CPI data. A benign inflationary reading would increase the scope for further rate cuts by the RBA, putting pressure on the local unit.

Currency Trading Commentary: 23rd October is a post from: Australian Stock Report Forex Trading News

Blue-chip giants, General Electric, Microsoft, and McDonald’s ignited the panic selling on Wall Street after all three reported earnings that missed analyst estimates.

It was the worst one day drop on the Street since June, with the falls wiping out nearly all of the week’s earlier gains. The Aussie dollar was pressured by sliding commodities, whilst the euro declined after the latest EU summit failed to make any progress on Spain’s problems.

Elsewhere, the Canadian dollar continues to feel the pressure from falling expectations of a rate hike by Canada’s central bank.

Currency Trading Commentary: 22nd October is a post from: Australian Stock Report Forex Trading News

The Dow posted its biggest gain in a month after industrial production returned to growth in September, easing concerns over the state of the US manufacturing sector.

The positive mood was helped by a raft of solid profit results from majors including Johnson and Johnson, and Goldman Sachs. Markets were also buoyed by comments from a German official that indicated Spain could be granted a temporary credit line from the EU bailout fund.

Speculation of a credit line being granted to Spain saw the euro climb 0.7% to US$1.3050, whilst the Aussie appreciated 0.2% to US$1.0277. The local unit has moved past US$1.03 in today’s session as traders price in a lower chance of a rate cut after yesterday’s not-so-dovish RBA minutes for October.

Elsewhere, the Canadian dollar was sold off across the board after Canada’s central bank governor hosed down speculation of a rate hike.

Currency Trading Commentary: 17th October is a post from: Australian Stock Report Forex Trading News

Wells Fargo and JP Morgan released third quarter earnings that fell shy of analyst estimates, sparking a sell-off in US banks that weighed on overall markets.

There was little reaction to data showing US consumer confidence rising to its highest in over five years, as concerns grow over the financial performance of the nation’s corporate sector.

The euro managed a 0.2% gain against the US dollar as speculation swirled Spain was nearing a formal request for a bailout.

The greenback was marginally higher versus the Canadian dollar and yen, as traders cut their bets on further monetary easing by the Fed following the positive US consumer confidence data.

Elsewhere, the Aussie dollar fell 0.2% to US$1.0231 and has extended its declines into today’s Asian session after RBA governor Glenn Stevens said there was scope for further interest rate cuts.

Currency Trading Commentary: 15th October is a post from: Australian Stock Report Forex Trading News

The early gains on Wall Street fizzled after trade data revealed weaker demand for US exports and investors adopted a guarded approach ahead of profit releases from banking majors, JP Morgan and Wells Fargo.

In the currency space, the euro rose against the greenback and yen on hopes S&P’s downgrade of Spanish debt will force the country to request a sovereign bailout.

The greenback weakened against a number of other currencies as the US jobless claims data encouraged risk appetite. A pair of contrasting trade data saw the Canadian dollar strengthen against its US counterpart.

Canada’s trade deficit narrowed in August, whilst the US trade deficit widened more than expected as export demand fell. Elsewhere, the Aussie dollar extended its gains versus the greenback as yesterday’s better-than-expected domestic jobs data diminished the odds of an RBA rate cut next month.

Currency Trading Commentary: 12th October is a post from: Australian Stock Report Forex Trading News

Although the aluminium giant’s quarterly earnings and revenue topped estimates, investors were taken aback by its downbeat outlook for global commodity demand.

Chevron also weighed on the market after warning that falling energy prices would result in substantially lower earnings. The disappointing earnings updates saw the greenback fall against a number of other currencies, including the yen, Swiss franc and euro.

The shared currency posted slight gains against the yen and US dollar amid hopes Spain is nearing a formal request for a sovereign bailout. The Aussie dollar was buying US$1.0237 at the close of US trading, but has surged even higher today on the back of surprisingly strong domestic jobs data.

The Australian economy gained 14,500 jobs in September, beating economist expectations of an addition of 5,100 jobs. The local unit was trading towards US$1.023 earlier this afternoon, reaching its highest point since October 2.

Currency Trading Commentary: 11th October is a post from: Australian Stock Report Forex Trading News

Alcoa is due to kick off the third quarter earnings season tonight, and analysts expectations are that US companies reported a two to three percent fall in profits over the quarter.

Also weighing on sentiment was Europe’s debt crisis. EU finance ministers met last night, with investors still in the dark on whether Spain will formally request a bailout.

The risk off trade saw the greenback strengthen against a number of other currencies, including the Canadian dollar and Swiss franc. Elsewhere, the euro dropped 0.9% against the yen as EU finance ministers tried to thrash out an agreement over a potential bailout for Spain.

The Aussie dollar recovered from a three month low against its US counterpart, and has extended its gains in today’s Asian session alongside rallying equities.

Currency Trading Commentary: 9th October is a post from: Australian Stock Report Forex Trading News

Currency Trading Commentary: 25 June

It was a tough day for the Aussie market, on the back of mixed leads from international markets on Friday night, with all but one sector finishing in the red.

Utilities were the weakest links, followed by materials and industrial stocks.

Only the consumer discretionary sector managed to finish in the green.

The big four banks were split, with NAB (+0.1%) and ANZ (+0.3%) positing modest gains whilst WBC (-0.5%) and CBA (-0.3%) finished slightly in the red.

Amongst the major miners, BHP slipped 1.4% whilst RIO was little changed, off 0.2%.

For the day the XJO closed 20 points (-0.5%) weaker, at 4028.

Currency Trading Commentary: 25 June is a post from: Australian Stock Report Forex Trading News

Currency Trading Commentary: 16 June

The bias for the USDCHF is becoming increasingly bearish. We’ve switched to a four-hour chart today to better highlight the weakness and present an aggressive, short-term opportunity. We note the shorter-term EMAs are crossed lower and the price action is below the longer-term EMA filter, which is negative. Whilst we are bearish, we would not be sellers unless support in the 0.9475 region gives way. To facilitate this, traders can set on stop sell orders at 0.9465, with targets set 80 pips below.

Currency Trading Commentary: 16 June is a post from: Australian Stock Report Forex Trading News