Daily Forex Fundamentals – July 16, 2013

What’s on the Economic Horizon

U.K. Inflation Anticipated to Hit 3.0%
ZEW Reports Projected to Show Little Change
U.S. CPI Report on Tap

U.S. Dollar (USD)

Not so fast, boys! Just when we thought that we would be seeing another dollar domination, a few weak economic reports pushed EUR/USD and GBP/USD off its lows while USD/JPY and USD/CHF also gave up some of their gains. What gives? Read more…

Euro (EUR)

Mixed trading for the euro, as it traded with a mostly bearish tone for most of the day before retracing later on in the New York session. EUR/USD hit as low as 1.2992 before recovering late to finish at 1.3069, down just 5 pips on the day. Read more…

British Pound (GBP)

After trading as low as 1.5027, the pound staged a comeback against the dollar in the London session and eventually managed to close just 3 pips below its opening price at 1.5105. Against the yen, it had much better luck as GBP/JPY rose 77 pips and finished at 150.65. Read more…

Japanese Yen (JPY)

The yen bears are back in action! Thanks to a relatively positive Chinese GDP data and weak U.S. reports, the yen was able to weaken against most of its counterparts. How did that happen?! Read more…

Canadian Dollar (CAD)

With no data on tap, the Canadian dollar traded to the flow of the Greenback. By the end of the day, USD/CAD was trading at 1.0413, up 17 pips from its opening price. Read more…

Australian Dollar (AUD)

Score one for the Aussie bulls! Despite the lack of major data from the Land Down Under, the comdolls were able to stage a nice uptick against the Greenback. AUD/USD closed 41 pips above its open price after hitting an intraday high of .9123. Read more…

New Zealand Dollar (NZD)

The Kiwi’s victory yesterday wasn’t much, but hey, it was still a good start to the week! From its intraday low of .7731, NZD/USD recovered to end the day at .7813, 24 pips higher than its opening price. Read more…

Swiss Franc (CHF)

Though the Swissy slid by a few pips against its major counterparts, there wasn’t really much action on the Swissy pairs. EUR/CHF finished at 1.2386, just 18 pips above its opening price, while USD/CHF ended the day 19 pips higher at .9478. Read more…

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