Daily Forex Fundamentals – October 28, 2013

What’s on the Economic Horizon
Yen pairs gap higher over the weekend
U.S. pending home sales to show rebound for Oct?
U.K. CBI realized sales expected to drop

U.S. Dollar (USD)

The Greenback’s performance was as mixed as a bag of nuts last Friday, as the U.S. currency consolidated against the euro but rallied against the Loonie and Kiwi. USD/JPY gapped higher over the weekend and opened at 97.75. What’s in store for the dollar today? Read more…

Euro (EUR)

Down but not out! The euro initially suffered a sharp selloff on Friday but it was able to recover towards the end of the day. EUR/USD dipped to a low of 1.3774 before bouncing back above the 1.3800 handle while EUR/JPY managed to close at 134.47 then gap up over the weekend. Can the euro keep it up? Read more…

British Pound (GBP)

Mayday, mayday! The pound plummeted on Friday, taking GBP/USD from a high of 1.6248 to a low of 1.6150. GBP/JPY, on the other hand, struggled to hold on to the 157.50 minor psychological handle. What’s in store for the pound today? Read more…

Japanese Yen (JPY)

The yen sure knows how to have a good time on a Friday! The Japanese currency edged higher against its major counterparts, particularly the Aussie and the Loonie, then consolidated against the U.S. dollar and the pound. What’s up with these weekend gaps among yen pairs though? Read more…

Canadian Dollar (CAD)

What a loser! The Loonie got bullied by its major counterparts on Friday, pushing USD/CAD way past the 1.0400 handle to a high of 1.0462. CAD/JPY was sold off below the 93.00 handle but managed to start this week off at an open price of 93.56. Read more…

Australian Dollar (AUD)

The Aussie sure knows a thing or two about going down under! AUD/USD slipped below the .9600 major psychological handle on Friday while AUD/JPY dipped to a low of 93.17. Will the Australian dollar keep getting wiped out today or can it catch a good wave? Read more…

New Zealand Dollar (NZD)

Oh my! What a nasty tumble by the Kiwi! NZD/USD was flailing helplessly on Friday, as the pair tumbled all the way down from the .8550 area to the .8300 level. What in the world was that all about?! Read more…

Swiss Franc (CHF)

That .8900 handle is just way too strong for the franc! USD/CHF failed in its nth attempt to break below the key psychological support level, as the pair jumped up to a high of .8966 towards the end of the U.S. session. Will USD/CHF have another chance to break below .8900 today? Read more…

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

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