What’s on the Economic Horizon?
DuDurable Goods Orders, Existing Home Sales, and CB Consumer Survey Due
U.K. Inflation Hearings to be Held Today
U.S. Dollar (USD)
The dollar bears must have gathered their strength over the weekend because they outnumbered the bulls in yesterday’s trading. USD/JPY slipped by 22 pips while EUR/USD jumped by 29 pips. What’s up with that?!
Due to data mostly coming within expectations, EUR/USD managed to get a little bit of reprieve yesterday. The bleeding of the pair stopped, as it found support around the 1.3060 level. EUR/USD began the day at 1.3095 and closed the day slightly higher at 1.3123.
British Pound (GBP)
Just like my homeboys from Daft Punk, it looks like the pound got lucky in yesterday’s trading. It scored a handful of pips against the dollar despite the lack of reports, finishing with a win for the first time in five days! GBP/USD was up at 1.5443 after opening at 1.5376. Boo yeah!
Japanese Yen (JPY)
With no major data out from the markets, the yen traded on the overall uptick in risk sentiment. EUR/JPY took a 6-pip slip, but GBP/JPY and AUD/JPY both registered intraday gains.
Canadian Dollar (CAD)
It was a wild, wild day for USD/CAD yesterday. At first, the pair continued its stellar rally, rising to its highest level since October 4, 2011. The gains proved to be temporary though, as the pair quickly gave up its gains to end the day hardly changed at 1.0486.
Australian Dollar (AUD)
Back-to-back, baby! For a second day in a row AUD/USD printed greens following a series of red candles on the daily chart. The pair closed 67 pips higher after hitting an intraday high at .9300. Booyah!
New Zealand Dollar (NZD)
Where to, Kiwi? NZD/USD traded sideways for the second day in a row. For the most part of yesterday’s trading, the pair traded between .7750 and .7700 before finishing the day with an 18-pip gain at .7754.
Swiss Franc (CHF)
The Swiss franc sure kicked the dollar’s butt in yesterday’s trading. USD/CHF traded lower after opening at .9367. The pair went to as low at .9313 before closing at .9331.
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!