Daily Forex Fundamentals – June 1, 2012

What’s on the Economic Horizon
U.S. NFP: 151K increase in hiring expected
Canadian monthly GDP to show 0.3% rebound?

U.S. Dollar (USD)

The dollar got mixed feedback in trading yesterday as it lost ground against the yen, strengthened against the pound and Loonie, but finished practically unchanged against everything else. What the heck happened and what can we expect today? Read more…

Euro (EUR)

If you’re a euro bear and you know it, clap your hands! Euro pairs spent another day in the red as EUR/USD dipped to the 1.2350 minor psychological support while EUR/JPY fell to a new low of 96.52. How long could the euro selloff last? Read more…

British Pound (GBP)

Boom! That’s another red day for the pound! The pound weakened against its major counterparts yesterday due to risk aversion and weak economic report prospects. Not only did Cable plunge to a new 4-month low, but EUR/GBP also rose by 32 pips while GBP/JPY fell by 165 pips. Yeouch! Read more…

Japanese Yen (JPY)

Boo yeah! There really is nothing like risk aversion to get traders hustlin’ towards the yen’s safety. Continued concerns about the fate of the euro as well as disappointing U.S. data allowed the currency to rally against all of its major counterparts yesterday. Read more…

Canadian Dollar (CAD)

The Loonie lost ground against the Greenback for the third straight day as risk aversion just wouldn’t leave the markets. USD/CAD jumped to a high of 1.0367 before ending the day at 1.0328, 46 pips up from its day open price. Will the Loonie’s losing streak continue today? Read more…

Australian Dollar (AUD)

Ha! It seems that the Aussie bulls still have some muscles in them as they pushed AUD/USD higher despite weak economic data from Australia. Does this mean that the sellers are done selling after all? Read more…

New Zealand Dollar (NZD)

Think the Kiwi is done with its losses? The currency bears beg to differ! NZD/USD plunged to an intraday low of .7501 before risk-friendly rumors pushed the comdoll to a close almost right at its closing price. Talk about having a close call! Read more…

Swiss Franc (CHF)

With the market players’ attention in the euro zone and the U.S., the franc showed mixed reaction against its counterparts. The low-yielding currency slipped a bit against the Greenback and the yen, but gained against the pound. Will its safe-haven reputation bring in some action 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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  • AlpinePips

    I really look forward to reading your reports. They help me make sense of what’s going on in the world. Thank you!