Daily Forex Fundamentals – March 5, 2013

What’s on the Economic Horizon

Australian retail sales top forecasts
U.S. ISM non-manufacturing report on tap
PMI reports to dictate the euro?

U.S. Dollar (USD)

Without any economic report from the U.S., the dollar got bullied by its counterparts in yesterday’s trading. It scored losses against all the other major currencies, giving up the most ground to the pound with GBP/USD closing 65 pops higher at 1.5112. Read more…

Euro (EUR)

​The euro sure did paint the town red in Friday’s trading, literally! The shared currency finished lower against the dollar as risk aversion dominated market sentiment. EUR/USD was down 37 pips at 1.3018 by the New York session close. Read more…

British Pound (GBP)

Hi-yah! The pound pulled a Bruce Lee on the currency bears yesterday when it shrugged off their hits and proceeded to end the day in the green. Cable shot up by 66 pips while Guppy climbed by 33 pips. Read more…

Japanese Yen (JPY)

Oh yeah! Despite a relatively quiet trading day, the yen still managed to hold on to its swag. Most yen pairs still closed lower. By the end of the New York session, EUR/JPY was down 16 pips at 121.86 while USD/JPY was 19 pips lower at 93.45. Read more…

Canadian Dollar (CAD)

No data? No direction! Because there were no major economic releases in both Canada and the U.S., USD/CAD was unable to find a clear trend yesterday. It simply moved horizontally as it found resistance at the 1.0300 area and support around the week open at 1.0271. It closed the day at 1.0279, barely changed from its opening price. Read more…

Australian Dollar (AUD)

an, you gotta give Aussie bulls an “A” for effort. AUD/USD got sold off early on in yesterday’s trading, tapping an intraday low of 1.0115. However, just when it seemed that all hope was lost, the pair rallied to close the day just 10 pips below its opening price at 1.0193. Read more…

New Zealand Dollar (NZD)

Like many high-yielding currencies, the Kiwi started the week on the wrong side of the charts but quickly recovered and ended the day higher than its open price. NZD/USD had dropped to an intraday low of .8191 before it closed with a 38-pip gain. Read more…

Swiss Franc (CHF)

With no reports out from Switzerland, the franc’s price action was dictated by its counterparts. It gained on the Greenback and the euro, but lost to the pound. Here’s why. Read more…

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