Daily Forex Fundamentals – February 1, 2012

What’s on the Economic Horizon

U.S. Manufacturing And Jobs Reports On Tap
Will SNB Intervene As EUR/CHF Nears 1.2000?
Canada’s GDP for December Disappoints

U.S. Dollar (USD)

The dollar’s scorecard was as mixed as a bag of M&M’s in yesterday’s trading. While it was able to rally against the euro, snatching a 50-pip win as EUR/USD closed at 1.3080, it gave up 52 pips to the pound as GBP/USD closed at 1.5757. Read more…

Euro (EUR)

Red was the color of the day yesterday as most economic reports released from all over the globe failed to meet expectations. Because of this, EUR/USD was hit hard by risk aversion and posted its second straight day of losses. The pair closed the U.S. trading session at 1.3080, 50 pips lower from its opening price that day. Read more…

British Pound (GBP)

It looks like the cable bulls just needed a one day break before it could resume its crazy run! Once again, the bulls came out on top, as GBP/USD posted an impressive 55-pip win to finish at 1.5757. Could this be the start of another winning streak? Read more…

Japanese Yen (JPY)

There’s just no stopping the yen! Despite warnings of intervention, the yen continued to post gains against its counterparts. USD/JPY ended yesterday’s trading 12 pips below its opening price at 76.22. Meanwhile, against the euro, the yen was able to snatch a 55-pip win, closing the day at 99.69. Read more…

Canadian Dollar (CAD)

No thanks to Canada’s disappointing GDP figures and the slight case of risk aversion in the market, the Loonie was unable to make significant gains yesterday. Against the Greenback, for instance, the Loonie ended the day at 1.0027, which was just a 1 pip difference from its opening price. Read more…

Australian Dollar (AUD)

That’s two for two! The Aussie scored another win against the dollar yesterday as AUD/USD ended the day 22 pips above its opening price at 1.0617. Can it extend its winning streak to three days? Read more…

New Zealand Dollar (NZD)

And the uptrend continues! The New Zealand dollar bounced back yesterday and posted a 66-pip victory versus the dollar, hitting its highest level in four months. Is there no stopping the Kiwi? Read more…

Swiss Franc (CHF)

We saw some mixed results for the franc yesterday, as USD/CHF climbed 25 pips to finish at .9205, while EUR/CHF edged even closer to its “floor” at 1.2000, as it closed the day at Could we see another SNB intervention? Read more…

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