Desktop, tablet & mobile - Forex trading platform

Australian Financial Services (AFS) Licence 246566

easyMarkets Daily Outlook

Bullet Report
Currency Trading Summary 04-May-2016

Written by Fanfan Zhang

A relatively quiet Asian session while the EUR retreats after climbing above $1600 levels on Tuesday on the back of weaker US dollar. The positive data showing improvement in Manufacturing in Eurozone and Germany also helped the single currency to gain momentum. While the Market waits for the ADP – NonFarm report today, the Non-Farm Employment Change is expected to create a lot of volatility on Friday as it might be able to give an indication about the Fed Rate Hike prospects for this year.

 

  • Oil and GOLD: After showing a limited movement on Monday, the US crude oil prices fell yesterday on the back of renewed talks about the OPEC increasing their oil supply. Moreover some reports show that we might see more oil production out of Saudi Arabia, Iran and the North Sea adding to supply amid concerns about demand. Oil production in OPEC member countries increased by 0.9M barrels per day in 2016, and it fell by 0.4M barrels per day in Non-OPEC countries. Gold fell from its fifteen month high due to the talks of Fed rate hike as early as this June. After yesterday’s FOMC Member Mester talked up Fed rate hike prospects for this year the US dollar gained while putting gold under pressure.

 

  • Stocks: U.S. stock prices continue to fall on Tuesday due to weaker oil prices, Dollar index dived to as low as 91.91 yesterday but recovered for a while. Tuesday’s declines followed the fall in oil prices, a drop in Chinese manufacturing and a forecast that growth in Europe this year will be weaker than previously expected.

 

  • Currencies: The USD gained strongly after the FED pointed towards a Rate Hike possibility in June. San Francisco Fed president John Williams said the economic outlook is "pretty optimistic" giving a much needed boost to the US dollar. The GBP shed its gains after the US dollar recovered. The cable is trading at 1.4545 at the time of this writing while the traders wait for the Construction PMI data due later today and services PMI data due tomorrow. The AUDUSD fell sharply during Tuesday’s session, crashing below the 0.75 support level while the market looks forward to the Australian Trade Balance tomorrow and the RBA monitory policy on Friday
Full Outlook

Forex Trading Platform Desktop, Tablet & Mobile

Through its real-time Forex trading platform, easyMarkets Australia offers complete suite of tool for Web, Desktop, Mobile and MT4 trading with 24 hours a day support and Dealing room service. In addition, easyMarkets provides One on One Forex training, The Forex School – Video on Demand forex trading lessons, and Forex seminars.

Why trade with easyMarkets?

  • Guaranteed Stop-Loss Rate
  • Competitive spreads
  • No commissions
  • Online Forex trading with Live, real time quotes.
  • No software downloads
  • Start trading within minutes.
  • Freeze and Trade©
platforms2x (1)
Daily Archive

DAILY ARCHIVE

FOREX MARKET

A summary of the previous day’s foreign exchange market movements

READ MORE >
Weekly Archive

WEEKLY ARCHIVE

CURRENCY MARKET

An in-depth market summary of the previous week’s foreign exchange trading movements

READ MORE >
Currencies Archive

CURRENCIES ARCHIVE

Weekly summary of currencies trading movements

READ MORE >

Our Awards

Try easyMarkets today

Get a free online demonstration of our leading online Forex trading platform.

Thank you for contacting us.

We have received your enquiry.

Risk Warning: Forex, Commodities, Options and CFDs (OTC Trading) are leveraged products that carry a substantial risk of loss up to your invested capital and may not be suitable for everyone. Please ensure that you fully understand the risks involved and do not invest money you cannot afford to lose. Please refer to our full risk disclaimer. EF Worldwide Ltd.

Follow us:

remodal

Lorem ipsum dolor sit amet, consectetur adipisicing elit. Rem odio tenetur dignissimos maxime, modi culpa, quos! Labore voluptatibus consequatur libero distinctio totam veritatis, iste, amet est aliquid excepturi quas. Fuga.