Daily Forex Fundamentals – August 1, 2013

What’s on the Economic Horizon

BOE rate decision set to rock the pound
ECB to deliver rate statement and press con
U.S. manufacturing PMI on tap

U.S. Dollar (USD)

Talk about a letdown! After getting off to a solid start early on in the New York session, the Greenback took a hit later on as the FOMC statement turned out to be a dud. When all the smoke cleared, EUR/USD was trading above the 1.3300 handle, while USD/JPY stayed within its recent range. Read more…

Euro (EUR)

For a while, EUR/USD was trading like a headless chicken, but when it finally got its bearings, it decided to climb higher. At the end of the day, it closed at 1.3303, up 41 pips on the day. Read more…

British Pound (GBP)

What a day! The pound had an exhilarating trading day against the dollar on Wednesday. GBP/USD opened at 1.5242 and traded lower until it bottomed out at 1.5126. Pound buyers then stepped up their game, pushing the pair to an intraday high of 1.5255 before closing at 1.5213. Read more…

Japanese Yen (JPY)

Just as USD/JPY first traded lower, then higher, then lower again, we saw similar movement across other yen pairs as well yesterday. By the end of the day, yen crosses pretty much stayed within their recent consolidation. Will we see a breakout today? Read more…

Canadian Dollar (CAD)

Thanks to the Canadian GDP report and the FOMC statement, the Loonie was able to pick itself up against the Greenback and end the day with the W. USD/CAD slipped from a high of 1.0336 and finished at 1.0270, posting a 32-pip slide on the day. Read more…

Australian Dollar (AUD)

Rough times to be an Aussie bull right now! Not even relative Greenback weakness could buck the Australian dollar’s slide down the charts! AUD/USD broke through key support levels and traded as low as .8937 before finally settling at .8989, down 77 pips from its opening price. Read more…

New Zealand Dollar (NZD)

It ain’t over til the closing bell rings! The Kiwi managed to pare the losses it incurred during the Tokyo and London sessions yesterday as NZD/USD bounced off .7950. During the New York session, the comdoll found enough demand to finish the day with a 9-pip gain at .7987. Read more…

Swiss Franc (CHF)

No major reports? No problem! The Swiss franc extended its gains against the dollar yesterday despite the lack of Tier 1 data from Switzerland. USD/CHF finished the day lower at .9254 after opening at .9298. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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