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Forex Trading MarketWeek ending 10 July 2009: With the onset of 2Q 2009 corporate earnings season, risk aversion returned to financial markets, giving the safe-haven currencies a small lift. Commodities fell, taking growth currencies with them. The RBA left interest rates steady at 3.0% but emphasized downside economic risks. June unemployment ticked up to 5.8% with 21.4K [...]
By far the most important fundamental release scheduled for this forex trading week is the U.S. Federal Reserve’s FOMC interest rate decision, slated for Wednesday, 24 June 2009, 6:15 PM GMT (Thursday, 25 June, 4:15 AM Canberra time). There’s little suspense regarding the rate decision itself; markets widely anticipate steady rates at 0–0.25%; however, traders [...]
Week ending 19 June 2009: Further consolidation within the forex trading market in a light data week as economic bears and bulls await direction. Australia’s April Westpac leading index rose 0.7% m/m but is down −3.5% annualised, while the 2Q2009 Westpac-ACCI survey of industrial trends (PMI) improved to 47.6 from 35.3; however, 1Q2009 dwelling starts [...]
Week ending 12 June 2009: The forex trading week focused on increasing risk acceptance possibly beyond economic fundamentals, with many majors consolidating and commodity currencies gaining. Traders are encouraged to read Westpac’s weekly analysis for insights into global investors’ mindsets. Australia lost 26.2K fulltime positions and gained 24.5K part-time ones in May, for a total [...]
Week ending 22 May 2009: A major revision in markets’ opinion of U.S. financial stability contributed to widespread USD depreciation late in the forex trading week, exaggerated by position squaring and light volumes ahead of a long weekend in the U.K. and U.S. This potential reversal of USD long positioning and risk aversion trading leaves [...]
Week ending 1 May 2009: Continued fundamental data indicating a slowing rate of economic descent for several nations prompted consolidation for most currency pairs. A swine flu-induced outbreak of risk aversion early in the week saw safe-haven currencies rise, only to pare their gains before closing. The RBA meets Tuesday, 5 May, and market opinion [...]
Forex week ending 17 April 2009: A week of consolidation and shifting balances in the forex trading market, with risk aversion easing its stranglehold but risk acceptance not yet palpable. Fundamental data reflects the rate of economic descent easing in the U.S., U.K., and emerging economies, continuing in Japan and parts of Asia, and accelerating [...]
Week ending 10 April 2009, In a light and holiday-shortened forex trading week, global equities continued to rally as underlying market dynamics steadied, with the VIX volatility index falling to 36.53, a level not seen since September, and the TED spread holding below 100bps at 95.58. The RBA cut rates by 25bps to 3.0%, citing [...]
