Daily Forex Fundamentals – August 19, 2013

What’s on the Economic Horizon

Consolidation During New York Session?
German PPI Due Tomorrow

U.S. Dollar (USD)

Despite the worse-than-expected economic data, the Greenback was able to remain afloat versus other major currencies last Friday. The U.S. dollar index that tracks the performance of the Greenback versus other majors climbed to 81.75 from its opening level at 81.60. Read more…

Euro (EUR)

After a great run up the charts on Thursday, the euro gave back some of its gains on Friday, as EUR/USD finished 20 pips lower at 1.3334. What could be in store for us this week? Read more…

British Pound (GBP)

Saddle up, fellas! With GBP/USD consolidating tightly on Friday, it appears that the pair is revving up for a huge breakout. Cable is currently stuck around the 1.5650 minor psychological level while waiting for a market catalyst. Which way could it break out? Read more…

Japanese Yen (JPY)

Because of the absence of tier 1 events last Friday, the yen ranged for the entire trading day. It started the Asian trading session 97.24, paced back and forth between support at 97.05 and resistance at 97.77, and then closed at 97.54. Read more…

Canadian Dollar (CAD)

Thanks to poor data released from the Rockies, the Canadian dollar slumped to end the week, as USD/CAD ended at 1.0338, up 35 pips from its opening price. What the heck happened?! Read more…

Australian Dollar (AUD)

The Aussie continued its rampage versus the Greenback last Friday as traders took in some disappointing economic reports from the U.S. The AUD/USD pair began the day at .9139 but found itself at .9183 by the end of the U.S. trading session. Read more…

New Zealand Dollar (NZD)

NZD/USD crept higher on Friday, reaching a high of .8127 but ending the day at .8118. Upbeat retail sales figures from New Zealand kept the pair afloat in the past few days, but can the Kiwi get support from any reports this week? Read more…

Swiss Franc (CHF)

Friday was a topsy-turvy day for the Swissy, as USD/CHF jumped to a high of .9288 then dipped to a low of .9217 before ending at .9272. EUR/CHF had a pretty crazy day too, but the pair managed to hold on to the 1.2350 minor psychological handle. Read more…

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