Daily Forex Fundamentals – September 28, 2011

What’s on the Economic Horizon

Durable Goods Report on Tap for the Dollar
German Preliminary CPI to Show a 0.1% Decrease in Prices

U.S. Dollar (USD)

Uh oh! It seems like investors are getting tired of listening to the rumors coming out of Europe and are starting to focus on the U.S. Too bad for the dollar, two not-so-optimistic Fed officials took centerstage yesterday. Read more…

Euro (EUR)

Well, well, well… It appears that we have a challenger in our midst. EUR/USD, after a couple of days ranging, finally decided to show some muscle and push higher. By the end of the U.S. trading session, the pair was sitting at 1.3595, 84 pips higher from its opening price during the Asian session. Read more…

British Pound (GBP)

Whoever said that good luck comes in threes should’ve bet on the pound yesterday! Despite the release of weak economic report from the U.K., the pound managed to end the day in the green against its major counterparts…for the third day in a row! What the heck happened? Read more…

Japanese Yen (JPY)

Once again, risk appetite proved to be the yen’s ultimate kryptonite. The Asian currency lost against most of its major counterparts as market sentiment improved yesterday. USD/JPY ended the day 31 pips higher at 76.78, EUR/JPY was up 106 pips at 104.38, and GBP/JPY closed at 120.01 after opening at 118.97. Read more…

Canadian Dollar (CAD)

Thanks to positive news from euro zone, the Loonie was able to edge higher against other major currencies yesterday. It was able to steal 81 pips from the safe haven Greenback and 89 pips from the low-yielding yen. Read more…

Australian Dollar (AUD)

After ranging like a range rover between .9800 and .9700 for a couple of days, AUD/USD finally broke out of its consolidation! It looks like Aussie bulls came out to reprezent yesterday, pushing the pair up the charts to end the day 102 pips above its opening price at .9912. Read more…

New Zealand Dollar (NZD)

Let’s all give a high five to the comdolls! Yesterday the Kiwi joined its comdoll buddies and rallied against the Greenback on a wave of risk appetite in markets. NZD/USD even tipped an intraday high of .7958 before it leveled off to close 81 pips above its open price. Read more…

Swiss Franc (CHF)

Yawn… With barely any market-moving reports released from the other economies, the low-yielding franc chilled it out against its counterparts yesterday. EUR/CHF only dipped by 5 pips to 1.2193, while USD/CHF finished the day with a 59-pip slide at .8969. Read more…

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