Daily Forex Fundamentals – May 8, 2012

What’s on the Economic Horizon

German Industrial Production Expected to Post 0.8% Growth
FOMC Member Lacker to Drop Hints on QE3?
Semi-annual RBNZ Financial Stability Report on Tap

U.S. Dollar (USD)

Whoa, slow down there buddy! Just when we thought that the dollar was gonna go all Black Mamba on the markets, it came up short like Lebron in the 4th quarter! After zooming higher to start the day, the Greenback stumbled later on as risk appetite improved. By the end of the day, the dollar was lagging behind the euro, pound, Swiss franc, and Canadian dollar. Read more…

Euro (EUR)

The euro may have been off to a shaky start as both EUR/USD and EUR/JPY gapped down over the weekend, but these pairs managed to fill part of those gaps on Monday. EUR/USD opened at 1.3034, dipped to a low of 1.2955, then closed at 1.3057. Read more…

British Pound (GBP)

It ends at 5! It didn’t matter that U.K. banks were closed in yesterday’s trading, the pound managed to rally anyway! It ended its long losing streak against the dollar as Cable climbed 61 pips to finish just below the 1.6200 handle. What can we expect as U.K. traders return from their long weekend today? Read more…

Japanese Yen (JPY)

Rough day for the yen as EUR/JPY and GBP/JPY jumped higher to fill their weekend gaps. The question is, will this continue or are the yen bulls merely gearing up for another dominating run? Read more…

Canadian Dollar (CAD)

Hang in there, Loonie! USD/CAD managed to keep its head below the 1.0000 handle yesterday after spiking to a high of .9988. At the end of the day, the Loonie was able to outpace the Greenback with USD/CAD closing at .9930. Will the Canadian currency be able to hold on to its gains? Read more…

Australian Dollar (AUD)

Close weekend gap? BAM! Done! Thanks to a slight improvement in risk appetite, the Aussie was able to recuperate its earlier losses and end the day on a winning note. After trading as low as 1.0110, AUD/USD recovered to close at 1.0202, up 50 pips from its opening price. Read more…

New Zealand Dollar (NZD)

After 5 days of sliding down the charts, the Kiwi finally stopped the bleeding! NZD/USD gapped down over the weekend, but by midday, it had already erased most of its losses, and by the end of the New York session, it was up 9 pips from its opening price at .7946. Read more…

Swiss Franc (CHF)

Swiss franc bears were in full control of USD/CHF at the start of the day as the pair gapped up 39 pips over the weekend. However, the bulls fought back valiantly and forced the pair to shift directions as it peaked at .9272. By the end of the day, they had managed to erase most of the franc’s losses, pushing USD/CHF to close at .9201.Read more…

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

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  • Megapronk

    the link to JPY seems to be taking me to the euro?