Daily Forex Fundamentals – January 29, 2013

What’s on the Economic Horizon
U.S. durable goods orders top forecasts
Carney’s remarks weigh on the pound
GfK Consumer Climate report on tap

U.S. Dollar (USD)

Mixed data? No problemo! Despite a negative U.S. housing report, the dollar still managed to finish the day higher against most of its major counterparts as the currency mimicked the move in the equity markets. Read more…

Euro (EUR)

After staging a solid two-day rally, EUR/USD put a halt to all the action and traded sideways to start the week. The pair finished the day virtually unchanged at 1.3456. What does the euro have in store for us today? Read more…

British Pound (GBP)

Rough start to the week for the pound, as it got killed across the charts yesterday. GBP/USD fell another 70 pips to finish the day at 1.5696, while GBP/JPY dropped to 142.42, down 109 pips from its opening price. Read more…

Japanese Yen (JPY)

Aww, snap! The yen’s losing steak finally came to an end! USD/JPY tapped a two-and-a-half-year high at 91.26 before finishing the day 28 pips lower at 90.74.
Read more…

Canadian Dollar (CAD)

USD/CAD formed a perfect gravestone doji on the daily chart to start the week, trading as high as 1.0101 before retreating to 1.0064, just 2 pips above its week open. Does this mean that it’s time for the Loonie to take control of the market? Read more…

Australian Dollar (AUD)

Easy does it! That was the way of the Aussie in yesterday’s trading. AUD/USD finished the day higher by just a mere two pips higher at 1.0415 after hitting an intraday low at 1.0384. Talk about cutting it close! Read more…

New Zealand Dollar (NZD)

Just when it seemed that the Kiwi was going to drown in the deep end, it was able to recover and salvage some pride late yesterday. By the end of the New York session, NZD/USD was trading at .8324, down 32 pips from its opening price, but much higher than its intraday low of .8280. Read more…

Swiss Franc (CHF)

Pretty quiet day for the franc, as USD/CHF pretty much stayed within range yesterday. By the end of the day, the pair was trading at .9263, down 16 pips for the day. Read more…

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