Daily Forex Fundamentals – March 1, 2013

What’s on the Economic Horizon

U.S. Spending Cuts Kick In Today
Canadian GDP Figures on Tap
U.K. Manufacturing PMI Seen at 51.0

U.S. Dollar (USD)

Pretty awesome day for the dollar, as it body slammed the rest of its major counterparts. EUR/USD, NZD/USD, GBP/USD and AUD/USD all closed lower on the day. Will we see more of the same to start the month of March? Read more…

Euro (EUR)

​Now you see it, now you don’t! Just when we thought that the euro is gaining ground in the markets, it pared most of its gains against the dollar and the pound yesterday. It stabilized against the yen though, and even inched a few pips higher against the franc. Read more…

British Pound (GBP)

Imagine that! The pound managed to hold steady against the U.S. dollar and even bag a few gains against the euro. GBP/USD kept its head above the 1.5150 minor psychological support while EUR/GBP edged close to the .8600 handle. How will the pound fare today? Read more…

Japanese Yen (JPY)

Mixed results for the yen, which found itself stuck within a range versus the euro, but getting pounded by the pound. EUR/JPY ended the day nearly unchanged, while GBP/JPY shot up 81 pips to finish at 140.64. Read more…

Canadian Dollar (CAD)

Aaaand they’re back! The Loonie bears came back to town yesterday after Canada printed a weak economic report. USD/CAD is back above 1.0300, which is around 68 pips higher than yesterday’s open price. Read more…

Australian Dollar (AUD)

Looks like risk sentiment isn’t on the Aussie’s side! After it looked like the pair might continue its good fortune from Wednesday, AUD/USD came crashing down during the latter sessions, as it fell all the way down to 1.0221, marking a 23-pip loss for the day. Read more…

New Zealand Dollar (NZD)

After a brief consolidation above .8300, NZD/USD eventually retreated and crashed back down to the .8250 area. Are there any events on today’s schedule that could trigger a bounce? Or is the Kiwi in for another round of selling? Read more…

Swiss Franc (CHF)

The Swissy received mixed reviews during yesterday’s trading as it managed to outperform the euro but lagged against the Greenback. USD/CHF popped higher to the .9360 area while EUR/CHF dropped like a rock and fell to the 1.2200 mark. Read more…

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