Daily Forex Fundamentals – September 20, 2013

What’s on the Economic Horizon

The U.K.’s Retail Sales Falls the Fastest in 10 Months
USD Gains Back some of its Losses
SNB Upgrades its Growth Forecasts

U.S. Dollar (USD)

Retracement or reversal? After getting beat up during the FOMC statement, the Greenback licked its wounds and was able to recover against some of its major counterparts. GBP/USD retreated below the 1.6100 handle while USD/JPY bounced back to the 99.50 area. Read more…

Euro (EUR)

The euro snagged another win against its major counterparts yesterday, but the move had more to do with the other currencies’ weaknesses. EUR/USD only gained 19 pips but EUR/GBP jumped by 55 pips while EUR/JPY rocketed by a whopping 202 pips. Read more…

British Pound (GBP)

That was quick! Thanks to one negative report, the pound quickly gave up some of its intraweek gains against its counterparts. GBP/USD fell by 83 pips while EUR/GBP shot up by 55 pips. What report was this anyway?! Read more…

Japanese Yen (JPY)

Just when it seemed the yen was having a pretty good day, it gets knocked off its feet! USD/JPY dipped to a low of 97.88 during the Asian session, before making a sudden turnaround and rallying towards the 99.50 level. What the heck happened?! Read more…

Canadian Dollar (CAD)

It stops at three! The Loonie failed to gain for another day against the Greenback yesterday as a bit of profit-taking took over the markets. USDCAD had dropped to an intraday low of 1.0182 before it closed 41 pips higher than its open price. Read more…

Australian Dollar (AUD)

Looks like .9500 was too hot for AUD/USD to handle! The pair was unable to make significant headway past the .9500 major psychological resistance yesterday, as it pulled back to the .9450 area during the New York session. Can it resume its rallies today? Read more…

New Zealand Dollar (NZD)

Phew! The Kiwi bulls barely pushed NZD/USD in the green yesterday as a bit of profit-taking took over the markets yesterday. NZD/USD finished the day 13 pips higher than its open price after dropping to a low of .8327. Read more…

Swiss Franc (CHF)

Who’s the Pied Piper now? Yesterday the franc finally traded on Switzerland’s data instead of its counterparts’ price action. USD/CHF slipped by 27 pips while EUR/CHF also sustained a 20-pip loss. What the heck brought that on?! Read more…

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