Daily Forex Fundamentals – May 13, 2011

What’s on the Economic Horizon

U.S. CPI and UoM Consumer Survey to Determine Market Sentiment
Euro zone GDP Report on the Docket

U.S. Dollar (USD)

Winning doesn’t last forever! The dollar found itself giving up some of its gains yesterday as the overall aversion to risk in the market tempered. EUR/USD, for one, was able to climb to 1.4238 to close the day with a 36-pip gain. Read more…

Euro (EUR)

Aaah! Like ice-cold water on a scorching hot summer day, talks of interest rate hikes allowed the euro to bounce from its six-week low of 1.4123 and end the day with a 35-pip win against the dollar at 1.4237. Read more…

British Pound (GBP)

Oh man, not again?! The pound ended the day frustrated with suffering another loss against its major counterparts. Cable opened at 1.6348, reached a high of 1.6381, then closed 15 pips below the 1.6300 handle. Meanwhile, guppy plunged from a high of 133.18 to close at 131.70. Will the pound’s losing streak continue today? Read more…

Japanese Yen (JPY)

If I were to sum up the yen’s movement yesterday in one word, I’d pick directionless! Due to the absence high-profile economic data from Japan, the yen found itself trading in tight ranges versus other major currencies yesterday. USD/JPY, for instance, had gone as low as 80.70 from its day open at 81.03 only to find itself right where it began at the end of the U.S. trading session. Read more…

Canadian Dollar (CAD)

And we’re tied! After coming out on top for on Monday and Tuesday, the Loonie scored its second loss to the dollar yesterday when USD/CAD parked 12 pips higher from its opening price at .9623. Which currency do you think will take home the bacon on the last trading day of the week? Read more…

Australian Dollar (AUD)

The Aussie hustled hard towards the latter part of yesterday’s trading against the dollar. AUD/USD rebounded from its intraday low of 1.0567 and closed at 1.0664. Too bad the Aussie’s piptorade wasn’t enough for it to score a win. AUD/USD ended the day 32 pips below its opening price. Read more…

New Zealand Dollar (NZD)

The Kiwi started off on a sour note as it edged lower against the Greenback during the Asian session. However, it put up a strong fight at the end of the day as NZD/USD rallied back up to the .7950 area. Let’s take a look at the upcoming set of economic events to find out whether we’ll see an upside breakout or if resistance below .8000 will hold. Read more…

Swiss Franc (CHF)

It’s a strong finish for the Swissy! The Swiss franc lagged behind the Greenback during the Asian and London sessions as USD/CHF tapped the .8900 level then. Determined to end the day with a win, the Swissy managed to muster enough strength to push USD/CHF to close at .8845. With a bunch of red flags on today’s schedule, we might be in for a repeat of this exciting price action today! Read more…

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  1. Homes for sale Milton

    Economy is going up and up day by day. I am too much afraid about my future and others too. How could people survive in coming years if the condition of economy remains the same.


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