Daily Forex Fundamentals – March 22, 2013

What’s on the Economic Horizon?

EUR Falls Across the Board
BOJ’s Kuroda Wasn’t Dovish in his First Speech
Comdolls Rise on Strong Chinese Data

U.S. Dollar (USD)

The Greenback’s price action was as assorted as Cyclopip’s trail mix as it gained on the euro and the franc but lost to the yen and the pound. The U.S. printed strong reports yesterday so what else could have influenced the dollar’s performance? Read more…

Euro (EUR)

Well, that was quick! The euro’s rally was short-lived as traders resumed dumping the shared currency after some ugly PMI numbers were revealed. EUR/USD practically erased all of Wednesday’s gains, dropping 46 pips to 1.2896. Meanwhile, EUR/JPY fell to 122.38 to record a jaw-dropping 192 loss on the day. Read more…

British Pound (GBP)

Finally, signs of a breakout from GBP/USD! Thanks to some positive economic data, Cable rallied hard yesterday, as it rose 63 pips to finish at 1.5172. Will we see a break above 1.5200 today? Read more…

Japanese Yen (JPY)

The yen was king of the forex hood yesterday as a not-so-dovish speech by the new BOJ head honcho inspired profit-taking on the yen pairs. USD/JPY crashed by around 150 pips to the 94.50 area while EUR/JPY wiped out most of its intraweek gains and closed at 122.07. Read more…

Canadian Dollar (CAD)

It looked as though the Loonie was gonna lock in a big win against the Greenback, but it ended up slacking off towards the New York session. USD/CAD fell to as low as 1.0201 before it settled at 1.0244 with a 10-pip gain on the day. Read more…

Australian Dollar (AUD)

Breakout alert! AUD/USD finally broke above 1.0400 and made new intraweek highs yesterday after the positive Chinese data boosted appetite for the comdolls. Read more…

New Zealand Dollar (NZD)

Looks like the good vibes from yesterday’s Tokyo session did carry over for the rest of the day! By the end of the day, NZD/USD was trading at .8312, 85 pips above its opening price! Read more…

Swiss Franc (CHF)

Another day in the slammer for USD/CHF, as it stuck within its daily trading range. USD/CHF failed to make any new highs or lows, eventually finishing at .9470, up 28 pips from its starting price. Read more…

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