Daily Forex Fundamentals – June 7, 2013

What’s on the Economic Horizon

EUR Rallies Despite Talk of Negative Rates
Will the NFP Disappoint?
Canadian Jobs Data On Tap

U.S. Dollar (USD)

Oh, the pain! The U.S. dollar extended its decline yesterday as central bank officials from the euro zone came out with a relatively brighter economic outlook. The U.S. dollar index that tracks the performance of the Greenback versus a basket of other major currencies fell from 83.05 to below the 82.00 key support level. Read more…

Euro (EUR)

And Super Mario does it again! Thanks to ECB President Mario Draghi’s optimism about the euro zone economy, the euro was able to hustle some serious muscle against the dollar in yesterday’s trading. EUR/USD skyrocketed to a 2-month high, tapping the 1.3300 handle before closing with a 155-pip gain for the day. Read more…

British Pound (GBP)

There is just no stopping the pound! It extended its gains against the dollar yesterday, stretching its winning streak to 4 days. GBP/USD rallied almost as soon as it opened at 1.5400. By the end of the New York session, the pair was up at 1.5600! Read more…

Japanese Yen (JPY)

Ladies and gentlemen of the forex arena, let’s give the yen a round of applause for its spectacular performance yesterday! The currency absolutely demolished the other major currencies, rallying a massive 210 pips versus the dollar, 124 pips against the euro, and a whopping 126 pips versus the pound. Read more…

Canadian Dollar (CAD)

The Loonie definitely felt the love in yesterday’s trading! Thanks to the overall dollar weakness, it was able to finish the day in the green. USD/CAD closed 82 pips below its opening price at 1.0264. Read more…

Australian Dollar (AUD)

Up, up, and away! The Australian dollar finally found some legs yesterday as it was able to rally strongly versus the U.S. dollar. AUD/USD started the day at .9538, climbed as high as .9675, and then closed the day at .9610. Read more…

New Zealand Dollar (NZD)

Thanks to the overall weakness of the Greenback, the Kiwi managed to recover some of its losses yesterday. The NZD/USD pair climbed to .8037 after it had opened the day at .7954. Read more…

Swiss Franc (CHF)

What a day for the franc! Taking advantage of Greenback weakness, the Swiss franc advanced versus the dollar, as USD/CHF dropped 122 pips to finish at .9300. Read more…

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

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  • Tinman

    Do you have an idea how the (NFP) non farmers payroll affect the US Markets?

  • Novice trader

    Insane week, I think I made about 600 pips total Wednesday Thursday only on yen