Daily Forex Fundamentals – February 13, 2013

What’s on the Economic Horizon
U.S. retail sales to print 0.1% uptick in Jan
G7 statement caps yen’s slide
BOE inflation report due today

U.S. Dollar (USD)

The Greenback got bullied by its major currency rivals during yesterday’s trading as the U.S. currency had to cough up its recent gains. USD/JPY tumbled to a low of 92.97 while EUR/USD rallied to the 1.3450 area during the New York session. What the heck happened? Read more…

Euro (EUR)

Draghi giveth and Draghi taketh away! After crippling the euro with his remarks in last weeks rate decision, the ECB head breathed life back into the shared currency with some new comments. As a result, the euro staged a 55-pip rally to end at 1.3442. Read more…

British Pound (GBP)

Reversal was the name of the game for the pound yesterday as the U.K. data got mixed in with the other currencies’ price action. Cable dropped to an intraday low of 1.5574 before ending the day with only a 10-pip loss while Guppy ended up with a doji. Read more…

Japanese Yen (JPY)

What the yen giveth, the yen taketh away! After reaching the 94.40 area, USD/JPY tumbled sharply during yesterday’s trading and dipped to a low of 92.97. EUR/JPY also suffered a selloff as it edged close to the 125.00 handle while GBP/JPY ended the day 5 pips below 146.50. Read more…

Canadian Dollar (CAD)

Looks like the Loonie can give it as good as it gets! After taking a hit to start the week, the Canadian currency struck back against the Greenback, causing USD/CAD to undo most of its losses and end 25 pips lower at 1.0030. Read more…

Australian Dollar (AUD)

Surf’s up, mates! AUD/USD caught a 100-pip wave yesterday as the pair cruised from a low of 1.0225 to the 1.0320 area during the New York session. Is this the start of an Aussie rally or is it just a retracement? Read more…

New Zealand Dollar (NZD)

Who needs economic data when a G7 statement is enough? NZD/USD gained another 42 pips yesterday after a G7 official’s statement inspired a dollar selloff. The pair capped the day at .8409 after hitting a low at .8333. Read more…

Swiss Franc (CHF)

While the other major currencies were on a wild see-saw ride, the franc was stuck in Snoozeville yesterday. It popped up dojis against the dollar, yen, and the pound but lost 36 pips on the euro. What gives? Read more…

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