Daily Forex Fundamentals – August 23, 2011

What’s on the Economic Horizon

New Zealand Inflation Expectations on Deck
U.S. New Home Sales Up Slightly
German and Euro Zone ZEW Reports on Tap

U.S. Dollar (USD)

Yeeesh. With no market moving events coming out, trading was as quiet as a Mr. Bean episode, as most pairs stayed within range. EUR/USD traded within a range of just 89 pips, closing 15 pips lower for the day at 1.4364 while GBP/USD managed to close just 3 pips higher to finish at 1.6468. Read more…

Euro (EUR)

Without any economic data on tap, the euro seemed lost in the charts during yesterday’s trading. EUR/USD rallied to its intraday high of 1.4437 at the wake of the London session but it ended the day 15 pips below its opening price at 1.4364. Read more…

British Pound (GBP)

“Let’s just call it a tie and call it a day!” said the British pound to the dollar as GBP/USD ended practically unchanged at 1.6468. Without any data to guide the way, the pair traded quite calmly, staying within the area of its one-year high. Read more…

Japanese Yen (JPY)

After last Friday’s crazy dip to new all-time lows, USD/JPY is now back trading right below the 77.00 handle. When will the BOJ finally intervene in the markets? Read more…

Canadian Dollar (CAD)

The Loonie pulled off a perfect V-move against the dollar yesterday. USD/CAD dropped to a low of .9829 before dollar bulls charged and pushed it up the charts to close the day only 6 pips below its opening price at .9901. Read more…

Australian Dollar (AUD)

With risk appetite picking up, the Aussie found itself surfing upstream until giving back some of its gains late in the New York session. AUD/USD eventually closed 20 pips higher, finishing at 1.0414. Read more…

New Zealand Dollar (NZD)

What a great day to be a comdoll! Thanks to a rally in commodities, the Kiwi finished as one of yesterday’s best performers. After hitting an intraday low of .8161, NZD/USD rallied to close 67 pips higher on the day at .8246. Read more…

Swiss Franc (CHF)

Dojis, dojis everywhere! Trading the Swissy was an absolute bore yesterday as it remained flat against its two major counterparts. USD/CHF finished hardly unchanged at .7898 just as EUR/CHF finished 8 pips lower at 1.1344. Read more…