Daily Forex Fundamentals – July 20, 2012

What’s on the Economic Horizon

U.K. public sector net borrowing on tap
Eurogroup meetings to reveal new developments?
Canadian CPI seen at -0.2%

U.S. Dollar (USD)

More data = more bad news! The U.S. added to its collection of disappointing stats yesterday, fueling bets for QE3 to the dismay of dollar bulls. Soft U.S. reports crippled the dollar, leading it to weaken against all of its major counterparts except for the euro and the franc. Read more…

Euro (EUR)

What the heck is happening on EUR/USD! For the fourth day in a row, the pair formed a spinning top-like candlestick on the daily chart, as it finished just a few pips below its opening price. Will we finally see a breakout to end the week? Read more…

British Pound (GBP)

Boy, did the pound feel like a boss in yesterday’s trading. Despite weaker-than-expected retail figures, it was still able to end the day higher against the dollar. GBP/USD closed 70 pips above its opening price at 1.5723. Read more…

Japanese Yen (JPY)

“You win some, you lose some!” was the theme of the day for the yen. While it chalked up solid gains against the dollar and the euro, it couldn’t help but give ground to the pound. What can we expect from it today? Read more…

Canadian Dollar (CAD)

Make that three in a row! Thanks to a nice risk rally, the Canadian dollar edged higher, as USD/CAD closed at 1.0078, 29 pips lower for the day. Will the comdoll continue to dominate or will the Greenback make a comeback to end the week? Read more…

Australian Dollar (AUD)

And the rally continues! The Aussie extended its streak to five straight wins against the Greenback as AUD/USD rose to 1.0428 to lock in a 64-pip gain. Can the high-yielding currency make it six in a row today? Read more…

New Zealand Dollar (NZD)

No data? That’s no problem for the Kiwi! As the comdoll showcased in yesterday’s trading, it was able to rally against the dollar despite the lack of economic reports from New Zealand. NZD/USD closed the day 38 pips above its opening price at .8031. Read more…

Swiss Franc (CHF)

USD/CHF traded lower during the Tokyo and London sessions. However, just when everyone thought the franc was about to make a run for pips, USD/CHF began trading higher! By the day’s close, the pair was up 3 pips above its opening price at .9781. Read more…

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  • JJ6845616

    AUD/USD and GBP/USD are rallying but what about the Euro…seems like that neither risk statement nor risk aversion is the Euro’s friend?What’s happening?