Daily Forex Fundamentals – June 28, 2013

What’s on the Economic Horizon

Chicago PMI to Print a Reading of 55.0
German Retail Sales Data on Tap
Canadian Economy Expected to Have Expanded 0.1% in May

U.S. Dollar (USD)

Now, that’s much better! After printing a mixed scorecard on Wednesday, the dollar traded with clearer direction on Thursday. It actually finished the day with wins against all of its counterparts save for the euro. EUR/USD bounced off 1.3000 on the heels of positive euro zone data. Read more…

Euro (EUR)

In a surprising turn of events, the euro managed to get a little bit of reprieve yesterday. The currency was able to stop the bleeding and actually turn higher versus the dollar. From EUR/USD’s opening price during the Tokyo session, the pair rallied as high as 1.3056 before settling at 1.3041. The pair gained 41 pips overall for the day. Read more…

British Pound (GBP)

You win some, you lose some. Although the pound managed to hold steady against the Japanese yen, it resumed its losing streak against the Greenback as GBP/USD dipped dangerously close to the 1.5200 mark. What’s in store for the pound pairs today? Read more…

Japanese Yen (JPY)

The yen failed to tap its inner Samurai in Thursday’s trading. It lost to almost all of its counterparts, giving up 48 pips to the dollar, 94 pips to the euro, and 15 pips to the pound. Read more…

Canadian Dollar (CAD)

USD/CAD traded in a “U” pattern yesterday. The pair, after opening the Tokyo trading session at 1.0479, fell to 1.0424, found support at the region, and then rallied back up to close the day barely changed at 1.0476. Read more…

Australian Dollar (AUD)

AUD/USD spent a good part of the Tokyo and London sessions above .9300. But all of a sudden, the Aussie crashed during the New York session! AUD/USD dropped from an intraday high of .9339 to finish the day at .9279. Read more…

New Zealand Dollar (NZD)

Yowza! After pulling up to the .7850 area, NZD/USD crashed once again and found itself trading below the .7800 major psychological level. Will it have a chance to get back on its feet today? Read more…

Swiss Franc (CHF)

Quite a topsy turvy day for the franc, as USD/CHF jumped to a high of .9488 before pulling back down and consolidating around .9450. EUR/CHF was able to stage a strong rally from a low of 1.2259 to a high of 1.2338 before moving sideways for the rest of the U.S. session. Read more…

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