Daily Forex Fundamentals – May 28, 2013

What’s on the Economic Horizon

Swiss employment data on tap
U.S. consumer confidence seen higher
Japan to post another decline in retail sales

U.S. Dollar (USD)

With the U.S. on a bank holiday, it’s no surprise that the dollar ended another day with mixed results against its counterparts. EUR/USD capped the day with a doji but USD/JPY fell by 22 pips and GBP/USD also slipped by 32 pips. Read more…

Euro (EUR)

With our homies in the U.K. and U.S. celebrating bank holidays, euro price action was extremely limited. After an entire day of trading, EUR/USD finished unchanged at 1.2934, while EUR/JPY ended just 26 pips lower at 130.72. Read more…

British Pound (GBP)

The pound started the week on a bleak note as it edged lower against the U.S. dollar in yesterday’s trading. GBP/USD slipped from a high of 1.5156 to a low of 1.5087. GBP/JPY, on the other hand, struggled to hold on to the 152.50 area. What’s in store for the pound today? Read more…

Japanese Yen (JPY)

Score another one for the yen! Most of London and U.S. session traders celebrated bank holidays yesterday, so it was easy for yen traders to track the Nikkei’s performance. Read more…

Canadian Dollar (CAD)

Mark another one down for the bears! Once again, sellers seized control of the Loonie, pushing USD/CAD 31 pips higher to 1.0337. Let’s see if they’ll make another run towards the previous high around 1.0400! Read more…

Australian Dollar (AUD)

The Aussie sank deeper in the red territory yesterday despite the absence of market-moving data. AUD/JPY reached new multi-month lows while AUD/USD ended the day 13 pips lower than its open price. What gives? Read more…

New Zealand Dollar (NZD)

‘Twas a quiet day for the Kiwi as NZD/USD spent most of the time consolidating around the .8100 major psychological level. Is there any catalyst for a breakout today? And which direction could it go? Read more…

Swiss Franc (CHF)

Support at the .9600 level held like a boss for USD/CHF in yesterday’s trading before the pair bounced off to a high of .9648. Can this pair keep heading higher today? Read more…

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

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