It was a tale of two halves overnight, with some strength in the European session completely dissolving in the US session. Risk assets were dumped en masse in the US session, giving Stateside equity indexes their biggest losses since November, as partial election results spurred concern about prospects for a stable government in Italy and [...]
Currency Trading Commentary: 15th October
October 15, 2012 By Leave a Comment
International markets posted more losses in last week’s final trading session, as investors reacted negatively to a pair of disappointing profit results in the US. 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 [...]
Currency Trading Commentary: 9th October
October 9, 2012 By Leave a Comment
There was mostly red on global markets overnight, as investors nervously positioned themselves ahead of the upcoming US earnings season. 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 [...]
Currency Trading Commentary: April 03
April 3, 2012 By Leave a Comment
The AUDUSD arrested its declines around 1.0300 late last week. Yesterday, the pair gapped up to a high around 1.0460 on the back of Sunday’s stronger-than-expected Chinese manufacturing data. There has since been a deterioration in the price action, following today’s RBA’s interest rate decision. As expected, the central bank left the official cash rate [...]
Currency Trading Commentary: April 2
April 2, 2012 By Leave a Comment
Amid stronger international equities and commodities the Aussie dollar put in a mixed performance on Friday night. The AUDUSD shed 0.2% to settle at 1.0358 at Friday morning’s NY close, whilst the AUDJPY put on 0.2% to settle at 85.76. Over the weekend, a stronger reading for a Chinese manufacturing gauge failed to end predictions [...]
Currency Trading Commentary: March 28
March 28, 2012 By Leave a Comment
After some solid gains in the previous session, global equities and commodities were softer overnight. As such, risk currencies were also weaker. The Aussie dollar was no exception, with our commodity based currency slipping against most of its major peers. The AUDUSD shed 0.7% to settle at 1.0460 at this morning’s NY [...]
Currency Trading Commentary: March 27
March 27, 2012 By Leave a Comment
Amid surging equity and commodity markets the Aussie dollar enjoyed strong gains overnight. The AUDUSD put on 0.7% to settle at 1.0533 at this morning’s NY close whilst the AUDJPY rallied 1.2%, to 87.26. The euro strengthened to an almost one-month high against the greenback as Germany said it may back plans to [...]
Currency Trading Commentary: March 16
March 16, 2012 By Leave a Comment
The greenback was broadly weaker in the overnight session, with traders instead bidding up riskier assets following a set of positive US economic data. The Empire State manufacturing index rose from 19.53 to 20.21 in March – the highest since June 2010, whilst the Philadelphia Fed index rose from 10.2 to 12.5 in March [...]
Currency Trading Commentary: March 14
March 14, 2012 By Leave a Comment
There is the possibility that the high last month, around 1.3500, completed the recent recovery phase from the January lows. If the price action moves below 1.2970 then a retest of the January low, at 1.2620-30 will be a likely scenario. Above the current market price, resistance is noted initially at 1.3180-90. If the pressure [...]
Currency Trading Commentary: March 21
Amid slumping equity markets due to renewed concerns about growth prospects in China, the Aussie dollar fell sharply overnight. Australia’s dollar dropped for the first time in four days on speculation China’s economic growth will slow, damping demand for the South Pacific nation’s exports. The AUDSD shed 1.2% to settle below the US$1.05 handle at 1.0480 [...]