Daily Forex Fundamentals – September 16, 2011

What’s on the Economic Horizon

TIC Long Term Purchases To Show Demand for U.S. Securities
ECOFIN Meetings Begin Today

U.S. Dollar (USD)

And just like that, the dollar is back eating lunch at the losers’ table! Thanks to a surge in risk appetite and mixed economic data, the Greenback traded lower versus its major counterparts. Can the dollar make a comeback today or will we see another round of losses? Read more…

Euro (EUR)

What a lucky break! Thanks to some good news from the euro zone, EUR/USD was able to close more than a hundred pips up from its 1.3552 open price. EUR/JPY also ended the day in positive territory as it closed 38 pips above the 106.00 handle. Is this a mere retracement or reversal we’re seeing? Read more…

British Pound (GBP)

The pound inched higher during yesterday’s trading as retail sales data fell in line with forecasts. After dipping down to an intraday low of 1.5731, GBP/USD rallied to 1.5869 but eventually settled at 1.5797 for a 19-pip gain on the day. Will it close the week on a high note? Read more…

Japanese Yen (JPY)

The yen got sliced up like a sushi roll in yesterday’s trading action, as risk appetite helped boost higher yielding currencies. EUR/JPY ran up the charts to close at 106.39, marking a near 100-pip gain. Meanwhile, AUD/JPY gained 39 pips to finish at 79.07. Read more…

Canadian Dollar (CAD)

Thanks to a rebound in risk appetite, the Loonie was able to end the day with a win against the safe-haven Greenback. USD/CAD opened at .9907 then fell 65 pips to close at .9842. Can the Loonie hold on to its gains today? Read more…

Australian Dollar (AUD)

Despite the release of poor economic data, the Aussie was able to surf higher on the charts and end its 5-day losing streak! After finding solid support at the 1.0200 handle, AUD/USD closed at 1.0320, marking a 53-pip gain for the day. Read more…

New Zealand Dollar (NZD)

Still ranging like a Range Rover! The range on NZD/USD remained intact yesterday as the Kiwi erased its losses from Wednesday. After hitting an intraday low of .8121 and an intraday high of .8282, NZD/USD finished the day 24 pips higher at .8229. Read more…

Swiss Franc (CHF)

Phew! The SNB certainly didn’t disappoint with its much-anticipated monetary policy assessment as the Swiss franc displayed some wild swings yesterday. While EUR/CHF ended the day 17 pips higher, USD/CHF tumbled 70 pips. Will the franc put up mixed results again today? Read more…

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