Daily Forex Fundamentals – March 6, 2013

What’s on the Economic Horizon

Australian GDP Surprises to the Upside
BOC Interest Rate Decision on Tap
ADP Report Seen at 172K

U.S. Dollar (USD)

The Greenback stayed in the bear lair yesterday after a strong U.S. report got mixed in with a little bit of risk appetite. It lost to the euro, pound, yen, and the comdolls and only gained a few pips on the franc. What’s in store for the dollar today? Read more…

Euro (EUR)

​Chop, chop, chop! EUR/USD spiked this way and that, but the pair managed to hold on to the 1.3050 minor psychological level during yesterday’s trading. EUR/JPY also had a choppy day as it moved sideways along 121.50. Read more…

British Pound (GBP)

The British pound moved in two distinct waves yesterday. The first move was up, as U.K.’s Services PMI came in slightly better than expected. Unfortunately, during the U.S. trading session, the pound was weighed down once again by the political uncertainty surrounding Italy. GBP/USD began the day at 1.5112, rose as high as 1.5200, and then dropped back down to close the day barely changed at 1.5114. Read more…

Japanese Yen (JPY)

Zzzz… Thanks to lack of report and central bank speeches from Japan, the yen lollygagged in the charts yesterday. Only AUD/JPY showed some action as it rose 32 pips higher than its open price. Read more…

Canadian Dollar (CAD)

USD/CAD edged lower during yesterday’s trading as the pair dipped to the 1.0260 area. Is this a sign that USD/CAD is retreating from its recent rallies? Or will today’s economic reports from Canada push the pair back up? Read more…

Australian Dollar (AUD)

Who surfed up the charts yesterday? The Aussie did! AUD/USD jumped from an intraday low of 1.0185 to finish the day 51 pips higher than its open price. Booyah! Read more…

New Zealand Dollar (NZD)

“You can’t bully me forever,” cried the Kiwi yesterday. Thanks to the pick-up in risk appetite, NZD/USD made fresh 7-day highs yesterday. The pair started the day at .8274, jumped to .8334, and then settled at .8313. 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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