Daily Forex Fundamentals – April 23, 2013

What’s on the Economic Horizon

HSBC Prints Disappointing Chinese Manufacturing PMI
Euro zone PMIs Due Today
Canadian Retail Sales On Tap

U.S. Dollar (USD)

Another mixed day for the Greenback! With no major market theme dictating the currencies’ price action, the US dollar ended up all over the charts. It gained a bit on the euro and the franc but was knocked back by the pound and the yen. Read more…

Euro (EUR)

Without any economic data on tap, the euro just lacked some “Ooomph!” in yesterday’s trading. It tapped the 1.0300 handle against the dollar but failed to sustain its rally above the level. EUR/USD had to settle with a 6-pip loss for the day at 1.0273. Read more…

British Pound (GBP)

Thanks to encouraging comments from both the IMF and the World Bank, Cable was able to stage a very respectable rally yesterday. It opened the day at 1.5234, rose to an intraday high at 1.5292, and then finally settled at 1.5282. Read more…

Japanese Yen (JPY)

Finally, a breather! The yen recovered some of its losses against its counterparts yesterday after posting heavy losses following the G20 weekend meeting. USD/JPY, EUR/JPY, and even GBP/JPY ended the day a couple of pips below their open prices. Read more…

Canadian Dollar (CAD)

Without any economic data on tap from Canada, the Loonie was left with no other choice but to spend another day in the bear lair. USD/CAD hovered around the 1.0250 minor psychological handle for the most part of the day before closing 4 pips higher from its opening price at 1.0256. Read more…

Australian Dollar (AUD)

The Aussie sank deeper in the bear lair yesterday as AUD/USD registered another 7-pip loss by the end of the day. What the heck happened? Read more…

New Zealand Dollar (NZD)

Due to the lack of market-moving events, yesterday turned out to be a very slow day for the Kiwi. After starting the day at .8397, the Kiwi simply paced back and forth between support at the .8400 major psychological level and resistance at .8460. At the end of the day, the Kiwi was sitting at .8417. Read more…

Swiss Franc (CHF)

Yesterday didn’t turn out to be a good day for the Swissy as it depreciated notably versus the safe haven Greenback. USD/CHF began the day at .9317 but ended the U.S. trading session slightly higher at .9344. Read more…

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  • Amit Desai

    Hey you dont have CNY HSBC Flash Manufacturing PMI in your FX calender today. This turned out to be an important event as the Aussie lost 40 pips to the greenback