Daily Forex Fundamentals – December 1, 2011

What’s on the Economic Horizon

U.S. Jobless Claims Expected to Come In Below 400K
AUD Retail Sales Disappoint
U.K. Manufacturing PMI on Tap

U.S. Dollar (USD)

What a wild and wacky Wednesday in the markets! With all the news that came out, the dollar was the biggest loser in yesterday’s trading action. The euro, pound, and the commodity dollars all soared from their recent lows, absolutely trampling all over the dollar bulls. Read more…

Euro (EUR)

Like the rest of the high-yielders in the currency market, the euro was hot, hot, hot! in yesterday’s trading. EUR/USD dipped to an intraday low of 1.3260 then skyrocketed up the charts to end the day at 1.3437. Meanwhile, EUR/JPY closed the day 44 pips above its opening price at 104.21. Read more…

British Pound (GBP)

And that makes it three for three! Yesterday’s risk rally helped the British record its third consecutive win against the dollar as the coordinated action of central banks spurred risk taking. As a result, GBP/USD rallied to as high as 1.5780 before settling at 1.5692 for an 82-pip gain on the day. Read more…

Japanese Yen (JPY)

Surprisingly, even with the markets on risk-on mode, the yen took just a small hit in yesterday’s trading action. EUR/JPY managed to post a 43-pip gain and close at 104.21, while GBP/JPY finished 16 pips higher at 121.70. Read more…

Canadian Dollar (CAD)

Boy did investors go looney for the Loonie yesterday! USD/CAD peaked at 1.0364 before dropping like it’s hot to an intraday low of 1.0125. By the end of the day’s trading, the Loonie was up 100 pips against the dollar. Read more…

Australian Dollar (AUD)

Make that three for three! On the strength of overall risk appetite, the Aussie dominated the charts yesterday, marking its biggest rise in over a month. AUD/USD climbed a whopping 258 pips to close at 1.0284. Read more…

New Zealand Dollar (NZD)

Now THAT is how you end the month with a bang! With risk taking back in vogue, the Kiwi was able to post its biggest rally for the month of November. From its opening price of .7620, NZD/USD climbed 189 pips to finish the day above the .7800 handle. Let’s see if it can follow up yesterday’s awesome performance with another win! Read more…

Swiss Franc (CHF)

The Swissy may have posted its third win this week against the dollar, but yesterday’s risk rally led it to break its winning streak against the euro. USD/CHF recorded its biggest drop so far this week, falling 62 pips to .9137. On the other hand, EUR/CHF managed to climb 15 pips to end at 1.2276. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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