Daily Forex Fundamentals – June 17, 2013

What’s on the Economic Horizon

Day 1 of G8 Meetings Starts Today
New York Manufacturing Index On Tap

U.S. Dollar (USD)

The Greenback moved in two distinct waves last Friday. Early in the day, the Greenback was on fire, blazing higher across most major currencies. But when the U.S. trading session rolled along, the currency totally reversed its gains and sold-off against the majors. Read more…

Euro (EUR)

The euro bears ended the week with a bang as they dragged the common currency lower against its major counterparts. EUR/USD fell to an intraday low of 1.3294 while EUR/JPY capped the day with a 126-pip loss. Read more…

British Pound (GBP)

Talk about having a funky Friday! The pound saw heavy selling early on in the day against the dollar. GBP/USD dropped to 1.5616 after opening at 1.5700. But just before the New York session came into play, the pair bounced back up to close with a 7-pip gain at 1.5707. Read more…

Japanese Yen (JPY)

The Japanese yen extended its rally last week as market participants were disappointed by the Bank of Japan (BOJ)’s absence of extra actions. The Japanese stock market also reacted with a huge drop, closing at its lowest level this year at 12,686.50. Read more…

Canadian Dollar (CAD)

Phew! Despite the release of disappointing Canadian data, the Loonie was able to limit its losses against the Greenback and even capped the day higher by 4 pips. What the heck did Canada release anyway? Read more…

Australian Dollar (AUD)

In spite of the lack of economic catalysts, the Aussie was still able to experience a bit of volatility last Friday due to the shifting market sentiment. AUD/USD opened the day at .9634, rose to an intraday high at .9666, fell to .9567, jumped to .9657 again, and then closed the week at .9591. Read more…

New Zealand Dollar (NZD)

Even with positive economic data, the Kiwi was no match to the dollar in Friday’s trading. The Business NZ Manufacturing Index printed its highest reading in 9 years at 59.2 but still, NZD/USD finished the day with a 22-pip loss at .8059. Ouch! Read more…

Swiss Franc (CHF)

Double dojis! USD/CHF traded sideways for the most part of Friday’s trading, end the New York session almost unchanged and forming another doji! The pair opened at .9221 and closed at .9213. Will the pair continue to find support at .9200 today? Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!