Daily Forex Fundamentals – January 23, 2013

What’s on the Economic Horizon

U.K. claimant count to show increase of 400
Swiss ZEW economic expectations on deck
Bank of Canada rate statement set for 3:00 pm GMT

U.S. Dollar (USD)

U.S. traders returned from their three-day weekend, but it seems like they didn’t miss the dollar at all while they were away. They sold the American currency, leading it to weaken against all of its major counterparts. Will it stay at the bottom of the dog pile today? Read more…

Euro (EUR)

Mixed results for the euro yesterday, which remained steady versus the dollar, but stumbled down the charts against the mighty yen. EUR/USD pretty much stayed within a range, closing near its opening price at 1.3318. Meanwhile, EUR/JPY slid down the charts to finish 132 pips lower at 118.17. Read more…

British Pound (GBP)

Despite weaker than expected U.K. data, the pound managed to end higher against the Greenback as GBP/USD closed 20 pips up from its 1.5826 open price. GBP/JPY, on the other hand, chalked in some losses as it dipped to a low of 139.80 then closed at 140.60. Read more…

Japanese Yen (JPY)

What a letdown! The BOJ monetary policy statement turned out to be a big party pooper as it led to huge losses on yen pairs. USD/JPY fell 101 pips while EUR/JPY slipped 132 pips. Has the yen selloff finally come to an end? Read more…

Canadian Dollar (CAD)

Thanks to mixed retail sales data, it’s no wonder USD/CAD stayed in consolidation mode! Once again, the pair remained in ranging mode, failing to establish any new significant highs or lows. By the end of the day, the pair was trading at. 9927 pips below its opening price! Read more…

Australian Dollar (AUD)

Finally, some decent gains for the Aussie! AUD/USD posted its biggest rally in a week as it rose 50 pips to end at 1.0567. Read more…

New Zealand Dollar (NZD)

The Kiwi soared up the charts yesterday as the Greenback sold off against its major counterparts. After opening at .8363, NZD/USD reached a high of .8430 then closed at .8413. What’s in store for the Kiwi today? Read more…

Swiss Franc (CHF)

The Swissy managed to score another day in gains against the Greenback as USD/CHF dipped to a low of .9275 before closing 8 pips below the .9300 handle. Will the franc be able to hold on to its gains today? Read more…

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