Daily Forex Fundamentals – August 17, 2011

What’s on the Economic Horizon?

Australia’s MI leading index rises by 0.1%
Merkel-Sarkozy meeting disappoints market expectations
MPC meeting minutes on tap today

U.S. Dollar (USD)

Ho ho, it looks like risk was on like Donkey Kong yesterday! Based on Swissy’s 80-pip rise to .7936 and Cable’s 79-pip gain to 1.6462, it looks like markets found it easier to take on risk. What gives? Read more…

Euro (EUR)

“Oh, woe is me!” cried the euro yesterday as it chalked up another losing day against its counterparts. EUR/USD closed 33 pips below its 1.4442 open price while EUR/JPY found resistance at 111.00 and ended at 110.59. Meanwhile, EURCHF Read more…

British Pound (GBP)

The uptrend is still intact! For the fourth straight day, the British pound rallied as a stronger than expected CPI figure lifted GBP/USD up another 80 pips. Against the yen, the pound was equally impressive as it Read more…

Japanese Yen (JPY)

With no major reports making waves in Japan, the yen’s price action was as mixed as the colors of Happy Pip’s shoes. EUR/JPY slid by 34 pips to 110.57, but GBP/JPY inched 53 pips higher to 126.34. Read more…

Canadian Dollar (CAD)

Yesterday was a topsy-turvy one for the Loonie as it zigzagged against the Greenback. USD/CAD opened at .9799, climbed to a high of .9873, then closed at .9820. Which reports can push this pair out of consolidation for today? Read more…

Australian Dollar (AUD)

Hang in there, boys! The Aussie ended its winning streak against the Greenback yesterday when risk appetite took a backseat in the markets. AUD/USD dropped to an intraday low of 1.0406 before steadying to only a 29-pip loss at 1.0476. Read more…

New Zealand Dollar (NZD)

What a scrappy little fighter this Kiwi is! In spite of the fact that it had no economic data to back it up, it managed to score a 37-pip gain over the Greenback as NZD/USD climbed to .8360. Read more…

Swiss Franc (CHF)

More losses for the Swiss franc! For the fourth straight day, the safe haven currency weakened against the dollar and the euro as it continues to be bogged down by the threat of an SNB intervention. Will it continue to slide today? Read more…

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