Daily Forex Fundamentals – August 5, 2013

What’s on the Economic Horizon

Weak NFP Report Drags the Dollar
AU Retail Sales Disappoints Expectations
UK Services PMI on Tap

U.S. Dollar (USD)

The NFP release did spark some fireworks across the charts but, at the end of the day, the dollar finished in the red. EUR/USD jumped to a high of 1.3293 while GBP/USD zoomed up to the 1.5300 handle. Is the Greenback in for more weakness today? Read more…

Euro (EUR)

Thanks to weak euro zone reports, the common currency pared some of its intraweek gains against its counterparts. EUR/USD shot up though, on a disappointing U.S. report. How the heck did that happen?! Read more…

British Pound (GBP)

Just when you thought the pound was doomed to experience another loss on the charts, it springs back to life and stages a magnificent rally! Upbeat reports from the U.K. and a poor showing from the U.S. NFP combined to take GBP/USD up from 1.5115 to 1.5287. Read more…

Japanese Yen (JPY)

Another mixed day for the yen! The Japanese currency managed to score some gains against the U.S. dollar and Aussie but it lost ground to the British pound. Will the yen be able to find a clearer direction today? Read more…

Canadian Dollar (CAD)

Down for another day! The Loonie’s price action showed just how much a double-edged sword the NFP report can be for Canada as a weak report led to an even weaker Canadian dollar. What’s up with that?! Read more…

Australian Dollar (AUD)

Boo hoo, it looks like the Aussie didn’t get invited to the NFP party! While the other major currencies were taking advantage of dollar weakness, AUD/USD continued to slump below the .8900 major psychological level while AUD/JPY tumbled to the 88.00 handle. Read more…

New Zealand Dollar (NZD)

The Kiwi just couldn’t jump on the winners’ bandwagon — it was one of the few currencies that lost to the Greenback. NZD/USD opened at .7879 and closed at .7833 after climbing as high as .7937. Read more…

Swiss Franc (CHF)

The Swissy made up for its poor performance on Thursday by dominating the dollar right before the weekend. Spurred by weak U.S. employment numbers, USD/CHF traded lower and finished at .9294, down 75 pips on the day. Read more…

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