Daily Forex Fundamentals – September 3, 2013

What’s on the Economic Horizon

RBA to keep rates unchanged
U.K. construction PMI to improve in August
U.S. ISM manufacturing PMI could dip to 54.2

U.S. Dollar (USD)

That’s how it’s done! The Greenback posted gains against its counterparts yesterday despite the release of better-than-expected data from other economies and the lack of data from the U.S. What’s up with that?! Read more…

Euro (EUR)

When will the bleeding stop? The euro fell to fresh lows against the dollar, as EUR/USD dipped to 1.3183 and ended the day below the 1.3200 major psychological level. EUR/JPY, on the other, hand climbed above the 131.00 mark. Read more…

British Pound (GBP)

All gaps get filled! After opening higher after the weekend, GBP/USD closed the gap yesterday when it tumbled from a high of 1.5592 to a low of 1.5531. GBP/JPY had a much better trading day, as it jumped out of consolidation and edged 5 pips close to the 155.00 handle. Read more…

Japanese Yen (JPY)

KA-POW! The yen took a beating against its higher-yielding counterparts yesterday thanks to an uptick in risk appetite. USD/JPY jumped by 94 pips while EUR/JPY, GBP/JPY, and AUD/JPY also showed notable yen weakness. Read more…

Canadian Dollar (CAD)

The Loonie was no match to dollar strength in yesterday’s trading since risk aversion extended its stay in the markets. USD/CAD found support around 1.0520 and climbed up to the 1.0550 handle. Will the Loonie be able to bounce back today? Read more…

Australian Dollar (AUD)

Finally, a breather! AUD/USD clocked in a solid 44-pip gain yesterday on the back of better-than-expected data from China. Booyah! Read more…

New Zealand Dollar (NZD)

Thank you, China! NZD/USD was able to hold its ground and go for gains in yesterday’s trading after China reported an expansion in its manufacturing sector. The pair soared by roughly 100 pips throughout the day, as it reached a high of .7841. Read more…

Swiss Franc (CHF)

Somebody’s not having a good Monday! The Swiss franc started the week on a poor note as it crumbled against dollar strength once again. USD/CHF climbed from the .9300 area to a high of .9350 while EUR/CHF reached a high of 1.2333. Can the franc make it out of its slump? Read more…

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