Daily Forex Fundamentals – November 7, 2011

What’s on the Economic Horizon

German Industrial Production Expected to Have Fallen by 0.7%
Halifax HPI to Show a 0.1% Increase
Swiss Inflation Figures on Deck

U.S. Dollar (USD)

Instead of the bloodbath that most of the permabears were expecting, the NFP Friday actually helped the dollar gained against its major counterparts. The positive NFP report boosted USD/JPY by 18 pips to 78.24, while EUR/USD slipped by 31 pips to 1.3792. Read more…

Euro (EUR)

Ugh, so much for a comeback! Just when we thought the euro was going to extend its winning streak against the dollar to three days, EUR/USD dropped from its intraday high of 1.3869 to 1.3712. The pair then ended the day 31 pips below its opening price at 1.3792. Read more…

British Pound (GBP)

When there’s a will, there’s a way. After dipping as low as 1.5946 early on during the European trading session, the Cable bulls managed to man up and recover all of its losses once the U.S. trading session began. By the end of the day, Cable was sitting at 1.6034, just 8 pips lower from its opening price. Read more…

Japanese Yen (JPY)

So far so good! Despite the release of the NFP report from the U.S. and the G20 meetings making waves in the markets, the yen managed to hang on to most of its losses from the BOJ intervention early in the week. USD/JPY is still above the 78.00 handle, while EUR/JPY capped the day at its open price. Read more…

Canadian Dollar (CAD)

Tsk, tsk. Little did the Loonie bulls know that they would end Friday’s trading in losers-ville. USD/CAD opened at what would be its intraday low at 1.0068 and closed the week at 1.0188. Read more…

Australian Dollar (AUD)

Thanks to the lack of report from Australia and a positive NFP reading from the U.S., the Aussie ended the day in the red against the Greenback. AUD/USD capped the day with a 44-pip decline at 1.0372 after hitting an intraday high of 1.0440. Read more…

New Zealand Dollar (NZD)

Despite the release of the U.S. non-farm payrolls, NZD/USD’s movement last Friday was nothing special. The pair simply moved sideways, traded within resistance at .7967 and support at .7900, and then closed the day barely changed from its opening price. Read more…

Swiss Franc (CHF)

Unfortunately for the Swissy, it was the currency that turned to be the least-liked last Friday. It gave up pips against both the euro and the dollar, with EUR/CHF closing 64-pips higher and USD/CHF ending the day 64-pip gain and USD/CHF closing with a 68-pip rise. Read more…

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  • منتدى فوركس

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