What’s on Economic Horizon
Weaker than expected Chinese inflation figures
BOE Governor King’s speech on tap
U.S. Dollar (USD)
Now that’s how you go into the weekend on a high note! Thanks to some positive NFP figures, the U.S. soared higher last Friday, as it picked apart its major counterparts. EUR/USD dropped 37 pips to finish at 1.2927, while GBP/USD hit as low as 1.6002 before settling at 1.6036, down 11 pips from its opening price. Read more…
Euro (EUR)
It’s a bloodbath out there! No thanks to the better-than-expected U.S. non-farm payrolls, EUR/USD extended its losses last Friday. It started the day at 1.2964 and then dropped to its lowest level in almost three weeks at 1.2877. After that, price pulled back and closed the U.S. trading session at 1.2927. Read more…
British Pound (GBP)
Not so fast, pound bears! Just when we thought that the weak U.K. data would weigh on the pound, risk appetite soon saved the currency bulls’ day. Cable capped the day 30 pips higher than its intraday low while Guppy only slipped by 3 pips. Read more…
Japanese Yen (JPY)
The yen found itself under intense selling pressure last Friday as the U.S. non-farm payrolls report smashed expectations. Thankfully, the yen was able to hold on and recover its losses after the selling frenzy died down. USD/JPY started the day at 82.36, rose to 82.83, and then fell back down near its open price at 82.40. Read more…
Canadian Dollar (CAD)
Spectacular performance, Loonie! The tremendously overwhelming jobs data from Canada proved to be too strong for the Loonie bears, which allowed USD/CAD to fall to its lowest level since November 7. The pair, after opening the day at .9916, fell to .9876 and then closed at .9899. Read more…
Australian Dollar (AUD)
AUD/USD was still unable to break above the 1.0500 handle last Friday, despite the improvement in risk appetite. Instead, the pair consolidated a few pips below that major psychological level and ended the week at 1.0487. Read more…
New Zealand Dollar (NZD)
Four in a row, baby! With no data out from New Zealand last Friday, Kiwi traders happily rode the risk appetite train as they pushed NZD/USD to close 17 pips higher than its open price. What exactly boosted the comdolls? Read more…
Swiss Franc (CHF)
The franc’s price action was as mixed as the reaction to the Pacquiao-Marquez fight as it beat the euro but lost to the Greenback. USD/CHF rose by 15 pips while EUR/CHF dropped for the third day in a row at 1.2081. Read more…
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
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