Daily Forex Fundamentals – February 20, 2012

What’s on the Economic Horizon

U.S. Banks on Holiday
Greece Nearing Debt Deal?
RBA Minutes On Tap Tomorrow

U.S. Dollar (USD)

Tough day for the dollar, as it found itself on the losing end against its European counterparts last Friday. EUR/USD finished at 1.3156, up 23 pips from its opening price, while GBP/USD closed 34 pips higher at 1.5833. Will the dollar continue to get thrown around or will it show who’s boss in the forex ghetto? Read more…

Euro (EUR)

What a finish by the euro! EUR/USD had one of its rollercoaster weeks as it dipped 26 pips below the 1.3000 handle then rallied for the last couple of days to close at 1.3156. EUR/JPY had its share of ups and downs as it bounced between 102.00 and 103.00 before breaking higher and ending at 104.58. Read more…

British Pound (GBP)

It looks like the pound is picking up where it left off last week! After posting a 28-pip gain against the Greenback last Friday, the British currency gapped up over the weekend and is currently trading at 1.5873, 40 pips above last week’s close. Let’s see if it can sustain its rally! Read more…

Japanese Yen (JPY)

Who called the Yakuza to mess up the yen? For the second day in a row, the yen got roughed up yesterday marking, posting significant losses across the board. EUR/JPY closed at 104.58, up 94 pips from its opening price, while GBP/JPY ended at 125.87, marking a 120-pip gain. Read more…

Canadian Dollar (CAD)

Thanks to strong CPI data, the Loonie was able to end a bit higher against the U.S. dollar on Friday. USD/CAD opened at .9965, dipped to a low of .9941, then closed at .9957. The pair gapped down over the weekend, suggesting that the Loonie could continue its rally. Read more…

Australian Dollar (AUD)

Even with risk appetite boosting other higher yielding currencies, the Australian dollar couldn’t gain any traction last Friday, and was actually one of the day’s biggest losers. AUD/USD crashed from its highs at 1.0800 to finish at 1.0717, 39 pips below its opening price. Read more…

New Zealand Dollar (NZD)

The Kiwi may not have moved much last Friday, but boy was it off to a strong start this week! NZD/USD was practically unchanged as it ended 8 pips higher at .8338 last Friday. But this week, the pair began with a 53-pip gap up the charts! Booyeah! Read more…

Swiss Franc (CHF)

We didn’t get much action from the Swissy last Friday, but it made up for it over the weekend! After ending the day practically unchanged at .9186 last Friday, USD/CHF gapped down over the weekend and opened at .9163. Will this bullish momentum carry the Swissy higher this week? Read more…

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

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