Daily Forex Fundamentals – June 5, 2013

What’s on the Economic Horizon

Euro zone services sector to stay flat
U.K. services PMI seen at 53.1
U.S. to unload more tier 1 reports
Canada building permits on tap

U.S. Dollar (USD)

The Greenback’s performance was as mixed as reviews for The Hangover III, as it managed to post some gains against the yen and commodity currencies but lost a bit of ground to the euro and pound. USD/JPY landed back above the 100.00 major psychological level, but will it stay there? Read more…

Euro (EUR)

EUR/USD was as chill as a popsicle in the middle of winter, as it hardly budged from its opening price. It spent the entire day trading sideways and finished just 10 pips higher at 1.3081. Is this the calm before tomorrow’s big ECB rate decision? Read more…

British Pound (GBP)

Stronger-than-expected PMI? Who cares? The strong U.K. construction PMI report was mostly shrugged off yesterday as Cable registered a 10-pip loss while EUR/GBP also rose by 11 pips. What the heck happened?! Read more…

Japanese Yen (JPY)

The Japanese yen lost ground to most of its major counterparts during the Asian session before consolidating for the rest of the day. USD/JPY bounced up to a high of 100.41 while EUR/JPY jumped back to the 131.00 area. Read more…

Canadian Dollar (CAD)

The day belonged to Loonie bears as USD/CAD climbed 67 pips up the charts. Did the weaker-than-expected trade balance report have a hand in the Loonie’s slide? Read more…

Australian Dollar (AUD)

If Australia is the Land Down Under, then AUD/USD is the currency pair that keeps going down under! The pair slid down the charts in yesterday’s trading, as it fell back below the .9700 major psychological level once more. Will it keep sinking today? Read more…

New Zealand Dollar (NZD)

With no data out from New Zealand yesterday, it was easy for Kiwi traders to jump on the comdoll train. Unfortunately, the train headed south as the RBA statement released yesterday hinted at future rate cuts. NZD/USD ended up with a 77-pip loss after dropping to an intraday low of .7967. Read more…

Swiss Franc (CHF)

Who played the game “Simon Says” yesterday? The franc did! Switzerland didn’t print any economic reports, so the franc just danced to the beat of its major counterparts. USD/CHF closed as a doji while EUR/CHF inched 6 pips higher. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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