Daily Forex Fundamentals – June 15, 2011

What’s on the Economic Horizon

U.S. Inflation Still Ice Cold
U.K. Claimant Count Change: Another Rise In Jobless Claims?
EZ Industrial Production on Tap

U.S. Dollar (USD)

You know it’s summer when the bears wake up from hibernation to take over the forex forest! Once again, dollar bears reigned supreme, as a healthy dose of risk appetite spurred higher yielding currencies higher versus the dollar. EUR/USD booked a 35 pip gain to end at 1.4450, while USD/CAD break below a rising trend line to close at .9692, 76 pips lower for the day. Read more…

Euro (EUR)

The euro ain’t Ryan Reynolds but it lit up the charts like the Green Lantern with all ’em bullish candlesticks during yesterday’s trading! EUR/USD ended the day 35 pips higher from its opening price at 1.4450 while EUR/JPY was up 65 pips at 116.26. Read more…

British Pound (GBP)

Weaker-than-expected economic data? No problem! Despite the core consumer price index coming in below forecast, Cable was still able to hold its ground and end the day with a very small loss only yesterday. Cable closed the U.S. trading session at 1.6372, just 14 pips lower from its Asian session opening price. Read more…

Japanese Yen (JPY)

With risk appetite driving the market, the yen got sliced and diced in yesterday’s trading action. Yen crosses soared up the charts, with EUR/JPY and AUD/JPY gaining 65 and 90 pips to close at 116.26 and 85.93 respectively. Read more…

Canadian Dollar (CAD)

After seesawing at .9750 for almost a week, the Loonie was finally able to break free from the bears yesterday. USD/CAD traded lower and ended the day 78 pips below its opening price at .9690. Read more…

Australian Dollar (AUD)

Surf’s up forex mates! With a wave of risk appetite hitting the market, the Aussie found itself climbing up the charts! AUD/USD rose 78 pips to close at 1.0680, marking the second consecutive day of gains. Can the bulls make it three in a row today? Read more…

New Zealand Dollar (NZD)

Score one for the Kiwi! After experiencing heavy losses on Monday, the Kiwi was able to rebound and post a respectable gain in yesterday’s trading session. NZD/USD rose 18 pips while NZD/JPY climbed 36 pips. Read more…

Swiss Franc (CHF)

No thanks to increased risk appetite, the Swissy experienced huge losses across the board yesterday. USD/CHF, after it had opened the day at .8373, closed the U.S. trading session higher at .8373. Meanwhile, EUR/CHF rose to 1.2215 after it had started the Asian trading session at 1.2070. Read more…

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