Daily Forex Fundamentals – May 28, 2012

What’s on the Economic Horizon
U.S. traders on Memorial Day holiday
Japanese household spending & retail sales data on tap

U.S. Dollar (USD)

U.S. markets are closed today in commemoration of Memorial Day, but that doesn’t mean the Greenback would be in for a lazy day. The dollar gapped lower against most of its major counterparts over the weekend, suggesting that traders could be gearing up for something big. What could it possibly be? Read more…

Euro (EUR)

With the threat of a “Grexit” still looming over its head, the euro found itself continuing its steady crawl down the charts last Friday. It lost another 19 pips to the dollar as EUR/USD greeted the weekend at 1.2513, while EUR/JPY slid down another 9 pips to 99.68. Read more…

British Pound (GBP)

Are the pound bulls and bears ready for a reversal? Thanks to the lack of data from the major economies, the pound ended the day almost unchanged against its counterparts last Friday. Read more…

Japanese Yen (JPY)

The Japanese yen’s performance was as mixed as a bag of nuts last Friday, but it did manage to end the week higher than its major counterparts. This week, the yen gapped down against its rivals so let’s take a look at the catalysts that could get these gaps filled. Read more…

Canadian Dollar (CAD)

Another day, another loss! For the fourth straight trading day, the Loonie gave up pips to its American counterpart as USD/CAD climbed another 25 pips up to 1.0296. Will the 1.0300 resistance level finally give way today? Read more…

Australian Dollar (AUD)

Now that’s how you put up a strong fight! Despite the strong wave of risk aversion, the Australian dollar managed to hold on tight and end the day unchanged against the U.S. dollar. Will the Aussie be able to keep itself from getting wiped out this week? Read more…

New Zealand Dollar (NZD)

Phew! For the second day in a row, the Kiwi was able to catch a breather on its string of losses against the Greenback. NZD/USD tipped an intraday high of .7586 before it finished the day with a 17-pip gain at .7542. Read more…

Swiss Franc (CHF)

Have I forgotten to dust my monitor again, or did EUR/CHF actually show some action last Friday? EUR/CHF spiked to a high of 1.2038 before it capped the day back at 1.2011. Did someone play Adele’s Rumor Has It again? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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  • Albert Nel

    Every morning I get my cup of coffee, open my charts and open the Daily Forex Fundamentals – thanks for the great work!