Daily Forex Fundamentals – June 21, 2011

What’s on the Economic Horizon
U.S. Existing home sales due today
Aussie drops on dovish RBA minutes

U.S. Dollar (USD)

The Greenback’s performance yesterday was as weak as the reviews for my boy Ryan Reynold’s Green Lantern when it lost across the board on a small wave of risk appetite and anti-dollar sentiment. Though USD/JPY inched 15 pips higher at 80.30, EUR/USD also climbed by 32 pips to 1.4300. Read more…

Euro (EUR)

I know y’all are keeping close tabs on the Greek debt situation but, so far, it seems hardly any progress has been made. That can explain why the EUR/USD ended the day only 32 pips up from its 1.4268 open price. Will the euro be able to make headway today? Read more…

British Pound (GBP)

Thanks to the news that a resolution to the Greek debt debacle was underway, risk appetite was able to make its way back into the markets yesterday and provide some support for GBP/USD. The pair, it had opened the Asian trading session at 1.6164, rose a good 37 pips to close the day higher at 1.6201. Read more…

Japanese Yen (JPY)

Looks like the sun isn’t the only one rising in Japan! A surprisingly high trade deficit report inspired mixed price action from the yen traders yesterday. The yen ended weakened against the dollar, euro, and the pound, but it gained against the Aussie and the Kiwi. Read more…

Canadian Dollar (CAD)

Is risk appetite back or what? The Loonie seemed to benefit from a rebound in risk yesterday as USD/CAD closed right at the .9800 handle after hitting a high of .9850. With Canadian retail sales due today, will the Loonie be able to hold on to its recent gains? Read more…

Australian Dollar (AUD)

The Aussie rode the risk aversion wave yesterday when the lack of progress on a possible bailout plan for Greece made the high-yielding investors jittery. AUD/USD dropped to an intraday low of 1.0497 before capping the day with only a 30-pip loss at 1.0569. Read more…

New Zealand Dollar (NZD)

Due to the absence of high-profile economic data from New Zealand, NZD/USD mainly traded in a tight range yesterday. It found support around the .8050 region and topped out at .8120. At the end of the U.S. trading session, the pair sat at .8091, just 8 pips lower from its opening price that day. Read more…

Swiss Franc (CHF)

Love maybe a short word, but when the Swissy bulls show it, it goes a long, long way! The intensified Swissy buying resulted in USD/CHF slumping as low as .8407 from its day open at .8496 and EUR/CHF falling as low as 1.2017 from 1.2122. It seemed that traders decided to seek safety in the Swiss franc as the Greek debt debacle continued to escalate. Read more…