Daily Forex Fundamentals – June 28, 2011

What’s on the Economic Horizon?

S&P U.S. home price index on tap
Euro zone officials make progress on Greece
U.K. current account report due today

U.S. Dollar (USD)

Risk was on like Donkey Kong! Though there were barely any economic reports released from the U.S. yesterday, the dollar printed mixed results against its major counterparts. It gained on the yen and the franc, which pushed USD/JPY 57 pips higher at 80.90. Meanwhile, it slipped against Read more…

Euro (EUR)

The euro breathed a sigh of relief yesterday as Greece showed signs of progress in finding a solution for its debt problems. EUR/USD rallied by 67 pips from its open price to close at 1.4280 while EUR/JPY landed 52 pips above the 115.00 handle. Can the euro hold on to Read more…

British Pound (GBP)

As much as it thrilled pound bulls to finally see the British currency end its three-day losing streak against the yen and dollar, they must have been even more delighted to see that it did this in spite of Posen’s dovish words. Even with no data backing its rise, GBP/USD was able to rise 15 pips while GBP/JPY Read more…

Japanese Yen (JPY)

Looks like a positive economic report didn’t cut it for the yen bulls! The yen weakened against most of its major counterparts yesterday when a round of risk appetite in markets sapped demand for the low-yielding yen. USD/JPY rose by 57 pips to 80.90, while EUR/JPY also Read more…

Canadian Dollar (CAD)

Oh Loonie, you’re so fine! A slight rebound in risk appetite yesterday allowed the Canadian dollar to end a tad higher against the Greenback, as USD/CAD closed one pip below its .9868 open price. Hey, that’s not so bad considering the pair reached a high of Read more…

Australian Dollar (AUD)

Ooomph! For the fourth day in a row, AUD/USD took a trip down the charts on lingering risk aversion and a bit of dollar appetite in markets. The pair even dropped to an intraday low of 1.0391 before capping the day with a 42-pip loss at Read more…

New Zealand Dollar (NZD)

No love for the Kiwi! You’d think that you’d see some sort of bounce from the New Zealand currency after the way that it gapped down against the USD to start the week… but that clearly wasn’t the case yesterday! NZD/USD started low and stayed low as it ended the day at .8057, 45 pips below Read more…

Swiss Franc (CHF)

Well, that’s a first! For the first time in over a week, the Swiss franc ended lower against the dollar and the euro. While USD/CHF jumped 34 pips, EUR/CHF posted a solid 105-pip rise. Will it recover today? Read more…

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