Daily Forex Fundamentals – January 21, 2013

What’s on the Economic Horizon

European officials convene in Eurogroup meetings
Canadian wholesale sales data on tap
BOJ monetary policy meeting set for tomorrow

U.S. Dollar (USD)

Ain’t nothin’ gonna stop the dollar from extending its gains on higher-yielding currencies! Even with U.S. data printing in the red, the American currency was able to end the day higher against the euro and pound, forcing EUR/USD down 64 pips to 1.3322 while GBP/USD slid 143 pips to 1.5865. Read more…

Euro (EUR)

Time for a breather, anyone? The euro bulls halted their buying spree last Friday when the lack of economic data inspired some profit taking. EUR/USD hit a wall at the 1.3400 handle while EUR/CHF closed 31 pips lower than its open price after spiking to a high of 1.2570. Read more…

British Pound (GBP)

Ouch! The pound took a nasty tumble last Friday as GBP/USD broke below the 1.6000 handle and fell by more than a hundred pips while GBP/JPY closed 16 pips below the 143.00 mark. What triggered this pound selloff? Read more…

Japanese Yen (JPY)

Surprisingly enough, we got a lot of action from the yen to end the week. It snatched 60 pips from the euro and 131 pips from the pound, but ended virtually unchanged against the dollar. Read more…

Canadian Dollar (CAD)

Like its comdoll buddies, the Loonie had no chance against the Greenback’s strength last Friday. USD/CAD popped up to an intraday high of .9948 before it capped the day 73 pips higher than its open price. What’s up with that?! Read more…

Australian Dollar (AUD)

Things are really going under in the Land Down Under! For the second day in a row, the Aussie treaded into bear country as AUD/USD slipped 29 pips to end at 1.0511. Read more…

New Zealand Dollar (NZD)

Aaah… Breakdown! After consolidating for more than a week, NZD/USD finally made a break to the downside and closed at .8361. Does this mean that we’ll see the selloff continue this week? Read more…

Swiss Franc (CHF)

You win some, you lose some. The Swissy had a mixed performance last Friday as it extended its losing streak against the Greenback but managed to sneak in some gains against the euro. USD/CHF ended the week at .9350 while EUR/CHF found resistance at 1.2500 and closed at 1.2455. Read more…

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