What’s on the Economic Horizon
BOC Business Outlook Survey on the docket
U.K. RICS house price balance expected to show 12% decline
Ben Bernanke to deliver another speech
U.S. Dollar (USD)
Sellers were in full control of the dollar last Friday as lower-than-expected non-farm payrolls killed demand for the currency and left it at the bottom of the dog pile. Its weakness saw USD/JPY finish 87 pips lower at 84.54, while EUR/USD climbed 34 pips to end at 1.3099. Read more…
Euro (EUR)
After four straight days of losses, the euro avoided a clean sweep versus the dollar as it pared some of its losses. EUR/USD finished 34 pips above its opening price to finish at 1.3099. Can the euro build on Friday’s success or will the bearish run continue? Read more…
British Pound (GBP)
After a brief stay above the 1.6000 handle last week, GBP/USD took a nasty tumble for the next few days and closed at 1.5876 on Friday. GBP/JPY had its share of losses as well as it crashed to a low of 129.15 during the week. Will the pound continue to drop this week? Read more…
Japanese Yen (JPY)
The yen was one of the biggest benificiaries of the dollar’s demise last Friday as it gained against all of its major counterparts. Is was downright beastin’, man! It gained 87 pips against both the dollar and the euro as USD/JPY greeted the weekend at 81.54 and EUR/JPY finished at 106.80. Read more…
Canadian Dollar (CAD)
Despite the crazy moves on other pairs, we didn’t see much on USD/CAD. The pair basically stayed within range and didn’t make any new significant high or low. Will we see more of the same today? Read more…
Australian Dollar (AUD)
Though the Aussie has been weak in recent weeks, it was not left out in last Friday’s rally. AUD/USD swung wildly minutes after the U.S. NFP report was released, but it ended the day 7 pips higher at 1.0310. Read more…
New Zealand Dollar (NZD)
Look at that .8250 minor psychological resistance holdin’ like a boss! NZD/USD topped at this level for the past week and slid down the charts later on as risk aversion weighed on the pair. Let’s find out if the Kiwi will continue to tumble this week or if it will be able to draw support from upcoming economic reports. Read more…
Swiss Franc (CHF)
The Swiss franc had a mixed performance last week as it fell against the U.S. dollar but edged higher against the euro. USD/CHF ended the week near the .9200 handle while EUR/CHF dipped to the 1.2000 mark before bouncing right back up. Will the Swissy find a clearer direction this week? Read more…
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