Daily Forex Fundamentals – June 18, 2013

What’s on the Economic Horizon

U.K. CPI to hit 2.6%
ZEW reports to bring the euro to life?
U.S. housing and inflation numbers on tap

U.S. Dollar (USD)

Not a bad start for the Greenback! With only a few hours left before the Fed announces its monetary policies, USD and equities traders are feeling optimistic. USD/JPY recovered by 37 pips while USD/CHF also popped up to a high of .9273 before settling at .9220. Read more…

Euro (EUR)

It looked as though the euro was going to end the day unchanged, but a strong push in the dying hours of the New York session gave it a slight advantage against the dollar. EUR/USD had spent most of the day in a tight consolidation before it popped up to finish 33 pips higher at 1.3380. Read more…

British Pound (GBP)

Due to the lack of hard-hitting economic data, Cable was unable to make significant strides in the foreign exchange market yesterday. It simply moved within a horizontal channel, finding support at 1.5680 and resistance at the 1.5750 level. It opened at 1.5707 and closed the day a mere 29 pips higher at 1.5736. Read more…

Japanese Yen (JPY)

The yen started the week on the wrong side of the charts as speculators took advantage of overall risk appetite. Both USD/JPY and EUR/JPY posted gains after clocking in two consecutive losing days last week. Read more…

Canadian Dollar (CAD)

The day was pretty uneventful for USD/CAD, which ended up closing just 7 pips higher at 1.0178 after spending the entire day in a tight range. Can we expect it to come to life today? Read more…

Australian Dollar (AUD)

Stalemate! Yesterday, the Aussie bulls and bears played a game of tug-o-pips that ended in a tie as AUD/USD finished the day only 3 pips above its open price. Will we see a clearer direction today? Read more…

New Zealand Dollar (NZD)

The Kiwi took a small hit yesterday as it gave up a bit of ground versus the Greenback. After testing the .8100 major psychological level, NZD/USD sold-off and fell to .8052. All in all, the pair lost 46 pips for the day. Read more…

Swiss Franc (CHF)

If you’re a range trader, then you probably would’ve loved how the Swissy moved yesterday. USD/CHF merely found itself trading within a relatively tight 60-pip range with support at .9211 and resistance at .9272. USD/CHF started the day at .9213 and then ended at .9220. Read more…

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  • PipHunter

    Hey, newbie question …..

    When you refer to the currencies here,

    e.g ‘It simply moved within a horizontal channel, finding support at 1.5680 and resistance at the 1.5750 level.’

    What is this price quoted against, does that make sense? What is the other side of the pair?