Daily Forex Fundamentals – May 27, 2011

What’s on the Economic Horizon
U.K. house prices to rebound by 0.1% this month
U.S. pending home sales report due today
Swiss KOF economic barometer to dip from 2.29 to 2.22

U.S. Dollar (USD)

The Greenback turned out to be a big loser yesterday as it lost ground to most of its major counterparts, except for the euro. Is it just me or is the U.S. dollar starting to lose its safe-haven appeal and follow fundamentals now? Read more…

Euro (EUR)

Aaah! There’s nothing like a classic case of “loose lips, sink pips” to send a currency into the bear lair, huh? The euro lost to almost all of its counterparts, falling to a new low at 1.2201 against the Swissy, scoring a 45-pip loss to the yen, and tumbling 89 pips from its intraday high of .8712 to close at .8623 against the pound. Read more…

British Pound (GBP)

The party don’t stop yo! With no economic data to rain on their parade, pound bulls continued to whoop it up on the charts. They pushed GBP/USD up another 112 pips, forming a three white soldiers pattern on the pair’s daily chart. Read more…

Japanese Yen (JPY)

Put the “Yeah!” in yen! The Japanese currency managed to end higher against most of its rivals, except for the Aussie and Kiwi. USD/JPY dropped from its 81.96 open price to close at 81.35 while EUR/JPY ended right at the 115.00 handle. Find out where the yen is headed today. Read more…

Canadian Dollar (CAD)

The Loonie’s performance was as boring as Cyclopip’s gym stories during yesterday’s trading. USD/CAD traded sideways, ending the day at 8 pips higher from its opening price at .9787. Read more…

Australian Dollar (AUD)

Boy did the Aussie get all fired up yesterday! AUD/USD jumped from its 1.0532 open price and reached a high of 1.0643 before closing at 1.0636. Aside from the pick up in risk appetite, what else could’ve boosted the Aussie’s spirits? Read more…

New Zealand Dollar (NZD)

Hey hey hey! The little man’s got game! The Kiwi put up awe-worthy numbers yesterday as it climbed and hit a new three-year high against the Greenback. Even with no data to support its rally, NZD/USD was able to close above .8100, 120 pips higher for the day. Read more…

Swiss Franc (CHF)

What a beast! The Swissy straight up tore through the charts yesterday, even without much help from trade balance and employment data! USD/CHF dropped 67 pips while EUR/CHF dropped 50 pips. Read more…