Daily Forex Fundamentals – August 26, 2013

What’s on the Economic Horizon

Durable Goods Orders Report on Deck
German IFO Business Climate Survey Expected to Rise to 107.1
New Zealand Trade Balance Misses Forecast

U.S. Dollar (USD)

Due to the abysmal results of the new home sales report, the U.S. dollar was let go in favor of other currencies. The U.S. dollar index that measures the performance of the currency versus the other majors tripped to 81.82 from 81.95. Read more…

Euro (EUR)

Thanks to the contrasting data between the euro zone and the U.S., EUR/USD was able to rally last Friday. The pair began the day at 1.3356, soared above 1.3400, before ending the day with a respectable 29-pip gain at 1.3385. Read more…

British Pound (GBP)

The pound traded up, down, and all around against the dollar. GBP/USD reached a high of 1.5639 and traded as low as 1.5538, but it eventually settled at 1.5582. Read more…

Japanese Yen (JPY)

We didn’t see much movement on USD/JPY last week. The pair tested and found resistance at the 99.00 handle, but it eventually rested at 98.67, down 3 pips on the day. Read more…

Canadian Dollar (CAD)

The USD/CAD pair was unable to pick a clear direction last Friday as it traded in an almost perfect reverse “U” pattern. The pair gained significantly during the Asian and morning European trading sessions but completely reversed its move during the U.S. session. USD/CAD began the day at 1.0517, climbed as high as 1.0565, and then fell back to 1.0502. Read more…

Australian Dollar (AUD)

If you are a range trader, then you would’ve loved AUD/USD’s price action last Friday. The pair simply moved within an 80-pip horizontal channel the entire day, finding a bottom at .8970 and a top at .9050. It began the Asian session at .9011 and closed the day only 19 pips higher at .9030. Read more…

New Zealand Dollar (NZD)

Will the bleeding ever end?! NZD/USD registered its fifth straight decline as the pair slid another 16 pips to finish at .7816. Read more…

Swiss Franc (CHF)

After losing ground to the dollar for two days in a row, the Swissy finally did enough to register a win. USD/CHF traded 27 pips lower, finishing at .9209, just above a major support level. Read more…

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