Daily Forex Fundamentals – September 4, 2013

What’s on the Economic Horizon

Today’s U.K. Services PMI Completes the PMI Trio This Week
BOC Interest Rate Decision on Tap
Australia’s GDP Printed a 0.6% Growth

U.S. Dollar (USD)

Out of the way! Greenback comin’ through! It seemed like nothing could stand in the way of the U.S. dollar’s rally yesterday, as both fundamentals and risk sentiment provided support for the safe-haven currency. EUR/USD dipped to a low of 1.3139 while USD/JPY spiked up to a high of 99.86. Read more…

Euro (EUR)

Yeouch! EUR/USD and EUR/GBP continued to lose ground despite the upward revisions of the region’s manufacturing PMI reports and a better-than-expected PPI report. What’s holding the investors back anyway? Read more…

British Pound (GBP)

Better-than-expected data? So what?! The currency bears shrugged off a strong U.K. data and continued to buy the Greenback instead. Good thing that the pound managed to clock in gains elsewhere! Read more…

Japanese Yen (JPY)

Talk about getting stuck! After its sharp slide in the previous day, the Japanese yen stayed mostly in consolidation during yesterday’s trading. USD/JPY struggled to break above the 99.50 level while EUR/JPY moved sideways around 131.00. Will the yen get its chance to bust out today? Read more…

Canadian Dollar (CAD)

The plot thickens for USD/CAD as the pair barely made any significant moves in yesterday’s trading. Will today be the day that the great 1.0600 resistance is broken? Read more…

Australian Dollar (AUD)

While most major currencies bowed down to the Greenback yesterday, the Australian dollar refused to surrender. AUD/USD jumped back above the .9000 and traded up to a high of .9072. AUD/JPY also had its share of gains as it broke above the 90.00 handle. Read more…

New Zealand Dollar (NZD)

Denied! NZD/USD wasn’t able to follow up on its gains from early in the week when the pair ended the day almost 20 pips lower than its open price. What the heck is up with that?! Read more…

Swiss Franc (CHF)

The better-than-expected Swiss GDP report didn’t make a dent on the franc traders’ resolve to sell the currency! Both USD/CHF and EUR/CHF showed franc weakness yesterday, you see. Did the report make any dent on price action at all? Read more…

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

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