Daily Forex Fundamentals – July 24, 2012

What’s on the Economic Horizon

Canadian retail sales reports due today
Fed Chairman Bernanke set to testify again
Another Spanish city in need of financial help?

U.S. Dollar (USD)

If risk is off and it don’t look good, who ya gonna call? The Greenback! Thanks to uncertainties in the euro zone, risk aversion propped the U.S. dollar up against most of its counterparts yesterday. Read on to find out what’s in store for the Greenback today. Read more…

Euro (EUR)

Looks like the euro finally caught a break! Sellers took a breather after dumping the euro sharply last Friday, leading EUR/USD to end the day 24 pips above its opening price at 1.2135. Could this be just a dead cat bounce? Read more…

British Pound (GBP)

Rough day for the pound, as it not only lost against the dollar, but the slumping euro as well! GBP/USD dropped for the second consecutive day, closing 87 pips lower at 1.5523. Meanwhile, EUR/GBP recovered some of last week’s losses to finish at .7817, up 58 pips from its opening price. Read more…

Japanese Yen (JPY)

Now that’s what you call a sweep, fellas! The Japanese yen ended higher against ALL of its major counterparts as risk aversion surged yesterday. USD/JPY closed at 78.39, after dipping below the 78.00 handle, while EUR/JPY ended the day 13 pips above the 95.00 handle. Read more…

Canadian Dollar (CAD)

And the bleeding continues! The Loonie continued to weaken against the Greenback as traders pushed USD/CAD higher up the charts. The pair gapped up 16 pips to start the week, but then continued trading higher until it ended the day 26 above its opening price at 1.0168. When will it stop? Read more…

Australian Dollar (AUD)

Not even stronger than expected inflation data was able to keep the Aussie afloat against the Greenback and the yen yesterday as risk aversion dominated price action. AUD/USD slipped by nearly a hundred pips as it closed at 1.0278 while AUD/JPY ended the day at 80.57. Read more…

New Zealand Dollar (NZD)

Just like the bird it’s named after, the Kiwi was flightless in yestreday’s trading matches. Risk aversion grounded the commodity currency, as NZD/USD dropped a solid 83 pips to end at .7892. Read more…

Swiss Franc (CHF)

The franc shook off a poor start and managed to edge higher versus the dollar, as USD/CHF closed 21 pips lower at .9897. Still, the pair failed to fill the weekend gap. Will it finish the job today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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  • Benjaminmiller

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