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Market WrapThe forex trading week was short on fundamental data but long on rhetoric and corporate earnings, in a positive-negative mix that kept markets lively.
Westpac August leading index gained 1.1% m/m, import prices were down −3.0% q/q, export prices −9.6% q/q, an improvement over the previous −20.6%. Bullish RBA meeting minutes only helped AUD slightly. AUD/USD [...]
Week ending 24 July 2009: In a week nearly bereft of fundamental data, corporate earnings remain mixed, with some impressive blowouts contrasting with stunning disappointments. The combination is keeping currencies, equities, commodities, and bond markets scrambling amongst low summer volumes.
Australia’s 2Q2009 PPI printed −0.8% q/q, 2.1% y/y, and CPI 0.5% q/q, 1.5% y/y. July DEWR [...]
Week ending 3 July 2009: The forex trading week was abbreviated by the U.S. holiday and traded with subdued volumes, seeing some exaggerated currency movements on renewed risk aversion but much consolidation within continuing ranges.
The RBA meets Tuesday, 7 July, and while a cut is possible they’re widely expected to remain on hold at 3.0%. [...]
Forex Trading Week ending 8 May 2009: Global equities markets continue to rally on nil, as most economic data indicate not a stabilisation but a less dramatic contraction with numerous downside risks remaining. Commodity and higher-yielding currencies gained as safe-havens declined in a widespread shifting of ranges.
The RBA held rates steady at 3.0% but lowered [...]
Week ending 12 December 2008, Political brinksmanship in Washington over the proposed automakers’ bailout drove global equities up and down like yo-yos, with risk aversion and currencies the shadows and USD’s status as a safe-haven currency the loser.
Australian workers lost −15.6K jobs in November and the unemployment rate ticked up to 4.4%, while ANZ job [...]
Commodity prices dominated forex trading this past week, the price of crude oil in particular sending the currencies of export nations higher and weighing on others. With higher energy and food prices forcing up global inflation and traders reconsidering the possibilities of interest rate changes within various nations, many currency pairs consolidated within narrow ranges.
The [...]
Strengthening confidence in the stability of financial markets saw consolidation within ranges for most major currency pairs this past forex trading week, with export currencies benefiting from new highs in commodities prices.
Although second-round inflation effects have pushed wage pressures to record levels, Australia’s high interest rates are finally slowing the demand for housing. The surge [...]
In forex trading this week, increased evidence of the global economic slowdown reaching the Eurozone, coupled with renewed confidence in U.S. resilience, led to more firmness for USD despite still rising commodities prices, including crude oil, which set new record highs for five consecutive days before peaking above $126 on Friday 9 May. Losses and [...]
