Daily Forex Fundamentals – January 17, 2013

What’s on the Economic Horizon?
ECB’s Nowotny says euro levels are nothing to worry about
Australia’s employment numbers missed expectations
David Cameron refused referendum on the U.K.’s EU membership

U.S. Dollar (USD)

The dollar sure brought its sexy back on the charts yesterday. It finished the day higher against the euro, pound, and the comdolls. Boo yeah! However, it seems like it didn’t flex its muscles enough for a sweep. It gave up ground to the other “safe haven” currencies, the yen and the Swiss franc. Read more…

Euro (EUR)

The euro bulls and bears had a fierce round of tug-o-pips yesterday when conflicting remarks from the region’s leaders got mixed in with grim German growth prospects. The euro ended the day higher against the pound, but lost a couple of pips to the dollar, franc, and the yen. Read more…

British Pound (GBP)

The pound tumbled down the charts yesterday as risk aversion extended its stay in the markets. GBP/USD dipped below the 1.6000 mark to a low of 1.5976 before it closed at 1.6006 while GBP/JPY ended the day at 141.68. Will the pound have another day in the red today? Read more…

Japanese Yen (JPY)

It’s starting to look like what we’re seeing is a legit reversal on USD/JPY! For the second straight day, the pair slid off its opening price, and in the end, it finished 29 pips lower at 88.51. What gives? Read more…

Canadian Dollar (CAD)

The Loonie bulls weren’t able to get their mojo back yesterday as USD/CAD rose for a second day in a row. The pair reached an intraday high of .9878 before it closed 18 pips higher than its open price. Read more…

Australian Dollar (AUD)

Hooray for the Aussie! It was one of the few higher-yielding currencies that managed to survive the run of risk aversion in the markets yesterday, with AUD/USD closing 12 pips up from its 1.0558 open price. Will it be able to hold on to its gains today? Read more…

New Zealand Dollar (NZD)

Way to go, little one! While most higher-yielding currencies lost ground to the safe-havens yesterday, the Kiwi managed to hold its ground and even come up with a tiny win against the Greenback. NZD/USD started the day at .8390 then closed at .8409. Read more…

Swiss Franc (CHF)

“Whew, I gotta catch my breath!” said USD/CHF yesterday as it stayed in consolidation after a few days of consecutive rallies. The pair moved sideways above the .9300 handle as it reached a high of .9330 then closed at .9320. Which way will it break out today? Read more…

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

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