What’s on the Economic Horizon
Fed Widely Expected to Keep Rates Steady
U.K. CPI to Remain Above 3.0%
Japan’s Tankan Survey Due Today
United States
Move over, Greenback! It’s time for the other major currencies to take center stage! Yesterday, the Greenback clocked in major losses across the board on the news that China did not raise interest rates over the weekend. China’s decision sparked a huge risk rally, causing EUR/USD to rise more than 200 pips to 1.3400 and USD/CHF to fall to its lowest level in one-month to .9650. Low liquidity was also a big factor in pushing price action strongly in one direction. More…
Euro zone
And that’s how you bounce back! After five days of crawling lower down the charts, the euro struck back with a vengeance and climbed like there was no tomorrow. Aided by improved risk appetite, EUR/USD ended the day 180 pips higher at 1.3391. More…
United Kingdom
Oh well, you can’t have everything, bro! The pound was able to dodge a few meaner bullets from the markets yesterday when a wave of risk appetite dampened the effects of the U.K.’s economic data. Though Sterling was able to post gains against the Greenback, it also slipped by 37 pips against the yen and 79 pips against the euro. More…
Japan
With the lack of economic report in the Land of the Rising Sun yesterday, the yen took a chill pill and went with the flow of risk appetite in the markets. It gained 51 pips on the Greenback and 37 pips on the pound, but lost 76 pips on the euro. More…
Canada
Is the Loonie ready to give parity another shot? USD/CAD continued to move further south yesterday as a positive capacity utilization rate helped boost the Loonie. The pair had hit an intraday low of 1.0028 before it finished the day at 1.0078 to lock in an 18-pip gain. More…
Australia
I love you China! Thanks to China’s decision to NOT raise key interest rates, the Aussie was able to stage an amazing rally against the Greenback yesterday. By the end of the U.S. trading session, AUD/USD was trading at .9949, more than 100 pips higher from its Asian session opening price. More…
New Zealand
Whew! The Kiwi got away with New Zealand’s less-than-awesome economic reports yesterday when a solid round of risk appetite boosted the comdolls. NZD/USD peaked at an intraday high of .7577 before settling to 81 pips above its open price at .7552. More…
Switzerland
Ding ding ding! We have a winner! Though Swiss economic data was negative yesterday, USD/CHF showed the dollar who’s boss as it drove USD/CHF 146 pips lower to close at .9678. More…
