Daily Forex Fundamentals – October 16, 2013

What’s on the Economic Horizon
U.K. jobs data to disappoint?
U.S. government shutdown continues, potential default looms
New Zealand CPI came in stronger than expected

U.S. Dollar (USD)

Boo yah! The Greenback showed the rest of the major currencies who’s boss, as it stayed undefeated in yesterday’s trading. EUR/USD slipped to a low of 1.3479 while USD/JPY climed above the 98.50 minor psychological level. Read more…

Euro (EUR)

Strong data? So what? The euro gave up ground to the dollar and the yen, pushing EUR/USD down to the 1.3500 area and EUR/JPY to a low of 132.65. Will the euro be able to recover today? Read more…

British Pound (GBP)

Consolidation was the name of the game for GBP/USD yesterday, as the pair found support around 1.5920 and resistance at 1.6000. Will it be able to make a breakout today? Read more…

Japanese Yen (JPY)

Looks like the yen won’t go down without a fight! The Japanese currency struggled to make gains against its major currency rivals, as GBP/JPY consolidated around the 157.50 area while AUD/JPY was unable to break past the 94.00 handle. Can the yen go for more gains? Read more…

Canadian Dollar (CAD)

The Loonie was no match to the dollar’s strength yesterday, as USD/CAD dipped to a low of 1.0331 then rallied all the way up to a high of 1.0392. CAD/JPY slipped below the 95.00 mark and reached a low of 94.43. Can the Canadian dollar bounce back? Read more…

Australian Dollar (AUD)

Slow and steady does it! AUD/USD struggled to stay above the .9500 major psychological level in yesterday’s trading while AUD/JPY bounced around the 94.00 mark. What’s in store for the Australian dollar today? Read more…

New Zealand Dollar (NZD)

This one’s definitely got some moves! NZD/USD showed off its hustle yesterday, as the pair edged up to the .8400 major psychological level. Is there anything on the calendar that can spur more rallies later on? Read more…

Swiss Franc (CHF)

Tuesday was not a good day for the Swissy, as the currency lost a lot of ground to the dollar then. USD/CHF climbed above the .9100 handle and reached a high of .9179 during the London session. Is the franc in for another round of losses? Read more…

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

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