Daily Forex Fundamentals – October 10, 2012

What’s on the Economic Horizon

EZ Bond Yields Rise
Second Largest Liquidity Injection from the PBOC
U.K. Trade Deficit Widens in August

U.S. Dollar (USD)

The dollar was at the top of the pack along with the yen as risk aversion dominated market sentiment. EUR/USD finished yesterday’s trading at 1.2869 after opening at 1.2971. Meanwhile, USD/CHF closed 83 pips higher at .9414. Read more…

Euro (EUR)

Did the euro have a bad day or what? Euro bears were in complete control of the shared currency as they sold it off in favor of the dollar and the yen. This led EUR/USD to drop 102 pips to land at 1.2869, while EUR/JPY slid 93 pips to 100.68. What the heck happened? Read more…

British Pound (GBP)

Thanks to poor economic data and a case of risk aversion in the markets, the pound suffered for the third consecutive day, as GBP/USD dropped 41 pips to finish at 1.5988. Will the losing continue or will we see a midweek reversal? Read more…

Japanese Yen (JPY)

The yen cruised through the charts like a boss in yesterday’s trading. USD/JPY ended the New York session lower at 78.24 after opening at 78.34 while EUR/JPY closed with a 93-pip loss at 100.68. Read more…

Canadian Dollar (CAD)

Even with oil prices surging yesterday, the Loonie couldn’t hold off the Greenback’s advances. As a result, USD/CAD found itself 15 pips higher at .9785 at the end of the day. Read more…

Australian Dollar (AUD)

Risk aversion got nothing on the Aussie, baby! Despite concerns about Spain and a possibly weak earnings season, AUD/USD found a bottom at 1.0175 before finishing the day 2 pips above its opening price at 1.0198. Read more…

New Zealand Dollar (NZD)

Just like its comdoll siblings, the Kiwi traded to the beat of risk sentiment, which unfortunately for the bulls, had a slightly bearish tone. NZD/USD eventually closed the day at .8167, down 26 pips from its opening price. Read more…

Swiss Franc (CHF)

Ka-chow! The Swiss franc got blinded by a flash of risk aversion yesterday and took a huge hit versus the dollar. By the end of the day, USD/CHF was trading at .9314, up a whopping 83 pips on the day. Read more…

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

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