Daily Forex Fundamentals – June 6, 2013

What’s on the Economic Horizon

Will Draghi Mention Negative Rates Once Again?
New BOC Governor Poloz Set to Speak in Front of Finance Committee
BOE Rate Statement to Take Place Today

U.S. Dollar (USD)

Another day of mixed results for the dollar! While it managed to post gains against the Aussie and the Kiwi, it couldn’t exert the same dominance against its other counterparts. EUR/USD, for instance, rose 10 pips to 1.3091 after tapping a high of 1.3115, while USD/JPY finished 90 pips lower at 99.13. Read more…

Euro (EUR)

Despite poor retail sales figures, the euro remained within range versus the dollar, as it didn’t make any new highs or lows. Could this be the calm before the storm that may hit during the London session? Read more…

British Pound (GBP)

Strike three for the bulls! The pound got another boost yesterday after a third PMI report from the U.K. hinted that the economy is firing on all cylinders. Cable popped up by another 93 pips while EUR/GBP slipped by 44 pips. Read more…

Japanese Yen (JPY)

The yen’s rally ain’t over, folks! After taking a break on Tuesday, the Japanese currency resumed its climb, rising up against its major counterparts. With the markets cheering it on, it pushed USD/JPY down 90 pips to 99.13 and EUR/JPY 108 pips lower to 129.77. Read more…

Canadian Dollar (CAD)

After a few days of wild moves, USD/CAD price action finally calmed down, as it pretty much just consolidated throughout the day. USD/CAD eventually ended the day trading at it is opening price around 1.0344. Read more…

Australian Dollar (AUD)

It looks like old habits die hard, eh? Once again, AUD/USD traded under complete control of sellers, as the pair slid 108 pips to .9538. Can it manage to stay below the .9600 handle? Read more…

New Zealand Dollar (NZD)

Despite the lack of data from New Zealand, the Kiwi still experienced a lot of volatility yesterday/ NZD/USD began the day at .8008, rose as high as .8062, only fall back down and close the U.S. trading session at .7955. Overall, the pair posted a 53-pip loss. Read more…

Swiss Franc (CHF)

Pretty solid day for the franc, as USD/CHF retested Monday’s lows and eventually finished at .9422, marking a 48-pip drop on the day. Will we see more of the same today? Read more…

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  • Bharathi Selvamani

    thanks…..