Daily Forex Fundamentals – November 14, 2012

What’s on the Economic Horizon

FOMC Meeting Minutes: Another non-event?
Political instability in Japan brewing
New Zealand retail sales disappoint forecasts

U.S. Dollar (USD)

Up, up, and aw…Ka-blam! The dollar was trading higher against its counterparts early on in yesterday’s trading when its rall all of a sudden lost steam. It then finished the day with a mixed scorecard, incurring losses against the comdolls and the yen but gaining against its European counterparts. Read more…

Euro (EUR)

Weaker-than-expected economic data? Who cares! Thanks to the good news surrounding the euro zone crisis, EUR/USD was able to recover from its slump early on and close the day barely changed from its opening price. The pair began the day at 1.2713 and then closed the U.S. trading session at 1.2705. Read more…

British Pound (GBP)

Strike five for the pound bulls! Thanks to risk aversion and not-so-awesome economic reports, the pound ended the day slightly lower against its counterparts. Cable lost 6 pips while Guppy fell by 14 pips. What were the U.K. reports about anyway? Read more…

Japanese Yen (JPY)

The yen still managed to hang on to its gains in yesterday’s trading as risk aversion continued to dominate sentiment. EUR/JPY closed 14 pips lower at 100.88 while USD/JPY finished 6 pips below its opening price at 79.40. But what’s this?! Word around the hood is that political uncertainty is once again brewing in Japan. Read more…

Canadian Dollar (CAD)

The lack of economic data kept the Loonie range bound yesterday, bouncing off previous highs and lows. It traded in a very tight 30-pip range with resistance at 1.0025 and support at .9995. Read more…

Australian Dollar (AUD)

In yo face, dollah! The Aussie cruised up the charts in yesterday’s trading despite negative data from Australia. AUD/USD finished the day higher at 1.0438 after opening at 1.0430. Read more…

New Zealand Dollar (NZD)

Back-to-back, baby! Unlike its other high-yielding buddies, comdolls like the Kiwi held its own against the Greenback yesterday. NZD/USD closed 20 pips higher than its open price after dropping to an intraday low of .8157. What gives? Read more…

Swiss Franc (CHF)

For the second day in a row, the franc snuck a couple of pips away from its counterparts. USD/CHF declined by another 5 pips while EUR/CHF went down by another 13 pips. And to think that Switzerland printed a disappointing data! Read more…

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