Daily Forex Fundamentals – November 28, 2011

What’s on the Economic Horizon

U.S. new home sales on tap
BOE inflation report to provide clues to policy moves?
Japanese retail sales expected to rebound

U.S. Dollar (USD)

Same story, different day! With risk aversion back in full swing, the dollar found itself on the winning side of the equation again. EUR/USD continued to fall, dipping another 116 pips to 1.3233, just as USD/JPY rallied 65 pips to 77.75. Read more…

Euro (EUR)

True to form, we saw a huge sell-off on Friday and sellers made an absolute killing. EUR/USD broke lower to close at 1.3233, down 116 pips on the day. Overall, the pair dipped 271 pips lower for the week, marking the 4th consecutive weekly loss. Read more…

British Pound (GBP)

GBP/USD ended the week on a sour note as it chalked up another set of losses last Friday. GBP/JPY, on the other hand, managed to end Friday in the green as it closed 66 pips up from its 119.47 open price. What’s in store for the pound pairs this week? Read more…

Japanese Yen (JPY)

Surprisingly enough, the yen performed poorly against its major counterparts despite the fact that risk aversion seized the markets once again. It lost ground against the dollar and the British pound and only managed to gain 2 pips against the euro. What gives?! Read more…

Canadian Dollar (CAD)

Talk about going looney for the Loonie! We saw some pretty wild moves on USD/CAD last Friday, as it was simply all over the place. After shooting up to as high as 1.0520, the pair broke lower at the start of the New York session, retesting former support at 1.0440, but only before rising back up to the 1.0500 mark. By the end of the day, the pair had closed at 1.0494, up 26 pips on the day. Read more…

Australian Dollar (AUD)

Down goes the Aussie! With risk aversion dealing heavy blows to high-yielding currencies, the Aussie had a difficult time finding buyers. When all was said and done, it finished 31 pips lower against the Greenback, with AUD/USD ending the week just a hair below the .9700 handle. Read more…

New Zealand Dollar (NZD)

Thanks to good ol’ risk aversion, NZD/USD slipped to a low of .7371, its lowest level in eight months. The pair was able to make a huge gap over the weekend though, as it opened at .7508. Let’s find out whether the Kiwi will be able to stay afloat this week! Read more…

Swiss Franc (CHF)

Along with its fellow European currencies, the Swiss franc tumbled when several euro zone nations’ credit ratings got downgraded last Friday. USD/CHF closed 115 pips up from its .9194 open price after hitting a high of .9331. EUR/CHF ended 47 pips up from its 1.2270 day open price. Read more…

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