Daily Forex Fundamentals – November 21, 2012

What’s on the Economic Horizon

MPC meeting minutes to shed light on monetary policy outlook
U.S. initial jobless claims seen at 415K

U.S. Dollar (USD)

The dollar did a pretty good job at holding its ground – it ended the day virtually unchanged against the euro, while gaining 36 pips against the yen. Will dollar bulls finally take control today? Read more…

Euro (EUR)

Despite the potential market-moving reports that popped up yesterday, it’s all very ho-hum in the euro region. The common currency ended the day almost unchanged against the Greenback, while it ticked 46 pips higher against the yen. What happened to those reports? Read more…

British Pound (GBP)

The pound managed to sneak in a few gains against the Greenback yesterday as GBP/USD closed 13 pips above its 1.5903 open price. GBP/JPY had its fair share of winnings as it ended the day 5 pips above the 130.00 handle. Read more…

Japanese Yen (JPY)

Once again, the Japanese yen failed to record wins against its major counterparts, even though the BOJ decided to keep its hands in its pockets in its latest rate decision. USD/JPY rose 36 pips to end at 81.71, while EUR/JPY climbed 46 pips to 104.65. When will the bleeding stop?? Read more…

Canadian Dollar (CAD)

Looks like the Loonie bulls took a breather from their cause yesterday when they let USD/CAD rise 16 pips higher than its open price. Read more…

Australian Dollar (AUD)

No bullish waves to ride this time! The Aussie found itself drowning against the Greenback, as the RBA monetary policy meeting minutes killed demand for the high-yielding currency. After reaching an intraday high of 1.0425, AUD/USD sank to 1.0371, down 38 pips on the day. Read more…

New Zealand Dollar (NZD)

Not so fast, little one! Although the Kiwi gapped higher against the Greenback over the weekend and followed through with a strong rally, NZD/USD erased some of its recent gains yesterday and closed at .8155. Was that just a pullback? Read more…

Swiss Franc (CHF)

It’s a stalemate, folks! The Swiss franc ended the day practically unchanged against the Greenback as EU finance ministers seem to be at a gridlock with their decision on Greece. USD/CHF ended the day at .9406, just a couple of pips up from its open price. Which way will it go today? Read more…

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