Daily Forex Fundamentals – April 3, 2012

What’s on the Economic Horizon

U.S. Factory Orders to Have Risen 1.5%
U.K. Construction PMI to Drop to 53.6
RBA Widely Expected to Keep Rates Unchanged at 4.25%

U.S. Dollar (USD)

The Greenback’s performance yesterday was as mixed as a bag of nuts. Even though it posted some gains versus the euro, it lost ground to the yen. Meanwhile, against the pound, the Greenback simply traded in a range. Read more…

Euro (EUR)

The euro zone’s PMI reports came up short against the other manufacturing data from other economies yesterday, which is probably why the euro also lost against its major counterparts. EUR/USD slid by 33 pips to 1.3328, while EUR/JPY plunged by 158 pips to 109.37. Read more…

British Pound (GBP)

The pound ended the day with mixed results against its counterparts yesterday as better-than-expected U.K. reports jumbled with risk aversion during the European session. Cable rose by 22 pips at 1.6034, but GBP/JPY dropped by 147 pips to 131.58. Read more…

Japanese Yen (JPY)

The yen turned in a magnificent performance in yesterday’s trading session as it gained a lot of ground against most major currencies. It gained 158 pips over the euro, 103 pips over the dollar, and 147 pips over the pound. Read more…

Canadian Dollar (CAD)

Who needs economic reports when you have the U.S., China, and rising oil prices boosting the Loonie? After reaching an intraday high at .9991, USD/CAD plunged 58 pips lower than its open price and closed at .9904. Here are the details. Read more…

Australian Dollar (AUD)

The Aussie received a small blow to the gut yesterday as an important economic report failed to meet market forecast. AUD/USD closed the U.S. trading session at 1.0425, 19 pips lower from its opening price. Read more…

New Zealand Dollar (NZD)

What a start to the quarter! After being the best performing currency in Q1 2012, the Kiwi started Q2 with another strong move. NZD/USD gapped up over the weekend to finish at .8236, up 48 pips from last Friday’s close. Read more…

Swiss Franc (CHF)

Mixed Swiss data garnered the Swiss franc a mixed scorecard in yesterday’s trading. USD/CHF closed yesterday’s trading 19 pips above its opening price at .9033. However, it was able to maintain its swagger against the euro, ending the day with a 3-pip win at 1.2039. Read more…

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