Whats on the Economic Horizon
U.S. Dollar (USD)
Thanks to the slight case of risk aversion in the markets yesterday, the U.S. dollar was able to post some solid gains. As usual, the source of risk aversion was disappointing news and data from euro zone. The U.S. dollar index which measures the performance of the U.S. dollar using a basket of other major currencies rose to 75.01 from 74.71. Read more
Just when we thought the worse was over for the euro, Moodys came in to spoil the party. Moodys hit the market with a surprise downgrade, which sent the euro tumbling late in the New York session. EUR/USD dropped a solid 109 pips on the day to close at 1.4423. Read more
British Pound (GBP)
After positive data fueled the pound to its intraday high at 1.6129, bears locked in on GBP/USD like a missile and blasted it down to close the day 17 pips lower from its opening price at 1.6065. Read more
Japanese Yen (JPY)
Trouble is brewing in the Land of the Rising Sun and traders are taking notice! Political squabbles in Japan dampened demand for the yen, causing USD/JPY to rise by 25 pips to 81.25 while CHF/JPY rocketed by 120 pips to 96.43. More
Canadian Dollar (CAD)
Yeouch! Despite the rise in oil prices and other commodities, the Canadian dollar found itself on the losing end yesterday. USD/CAD rose 23 pips to finish the day at .9631. Read more
Australian Dollar (AUD)
Whats up mates? Well, the Aussie sure isnt after losing 40 pips to the dollar in yesterdays trading. AUD/USD peaked at 1.0748 before tumbling to its closing price of 1.0692. Read more
New Zealand Dollar (NZD)
Just when Kiwi bulls were about to celebrate the comdolls new all-time high against the dollar at .8330, bears pounced in on NZD/USD until the pair closed 47 pips below its opening price at .8245. Read more
Swiss Franc (CHF)
Data, schmata! The Swissy didnt need economic reports to score epic wins against its counterparts in yesterdays trading. After opening at .8485, USD/CHF dropped to end the day at .8406. Meanwhile, EUR/CHF ended the day 206 pips lower from its opening price at 1.2124. Read more
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