Daily Forex Fundamentals – October 15, 2013

What’s on the Economic Horizon
German ZEW to change the Euro’s direction?
Will UK’s inflation data tick lower?

U.S. Dollar (USD)

We got mostly mixed trading and a tight range from currencies to open the week, including the Greenback. The US Dollar Index traded in a tight 25 point range and closing almost right at the day’s opening price. Read more…

Euro (EUR)

No major economic data (with the exception of Industrial production 1.0% vs. 0.8% forecast) made for a quiet morning European session for the Euro. After a 12pm GMT spike higher in risk assets and volatility, and the broad Greenback rally a few hours later, EUR/USD traded in a…Read more…

British Pound (GBP)

No economic reports from the UK meant a pretty tight trading day for the British Pound against most of the majors. Against the Greenback, there was quite a bit of choppiness, but it was held in a 65 pip range and closed the session near the day open at 1.5982. Read more…

Japanese Yen (JPY)

It was another sad day for the Japanese Yen as sentiment shifted late in Monday’s trading session on optimism of a US debt deal going through. It was a broad hit to the Yen, but with the US bank holiday and prevailing US government uncertainty, the volatility was limited. Read more…

Canadian Dollar (CAD)

It was Thanksgiving Day in Canada, and as with most bank holidays, it was a snooze fest for most of the Canadian Dollar pairs. Despite trading in only a 30 pip range on Monday, CAD gained on the Greenback for the day. Read more…

Australian Dollar (AUD)

It was all about the Aussie on Monday’s session as AUD/USD found buyers not too long after the week open gap lower to push the pair higher. The pair’s gain briefly maxed out at around 90 pips on the day after breaking above Friday’s highs. Read more…

New Zealand Dollar (NZD)

With a lack of any news from New Zealand, the Kiwi benefitted from broad risk-on sentiment in Monday’s session. After gapping lower at the open around .8300, it was a smooth ride higher and clean break of last week’s highs around .8355 to close the session around .8373. Read more…

Swiss Franc (CHF)

Monthly PPI data for the Land of Chocolates came out lower-than-expected at 0.1% vs. 0.3% forecast, providing a short-term hit to the Swiss Franc against the Greenback. The move was a short-lived one as…Read more…

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