What’s on the Economic Horizon
BOJ to hold monetary policy statement tomorrow
FOMC statement just around the corner
U.S. Dollar (USD)
The dollar put on a show last Friday as it flexed its muscles and gained ground against all of its major counterparts. Thanks to upbeat employment data, it had no trouble finding buyers. It was downright beastin’! EUR/USD erased all of its gains from Thursday to post a 152-pip slide as it greeted the weekend at 1.3115. Read more…
Euro (EUR)
Greece is saved! Or is it? After activating its collective action clauses, Greece announced last Friday that investors of 95.7% of Greece’s privately-held bonds are willing to participate in the swap. EU leaders sounded pretty happy about it too, since they give their go signal on Greece’s second bailout package. But is it enough to boost the euro by the end of the day? Read more…
British Pound (GBP)
Oh, that’s gotta burn! GBP/USD took a nasty tumble on Friday as it closed nearly 150 pips down from its 1.5821 open price. GBP/JPY, on the other hand, managed to pocket a few gains as it ended 19 pips above the 129.00 handle. Where could the pound be headed today? Read more…
Japanese Yen (JPY)
The yen got a taste of both defeat and victory last Friday. It weakened against the dollar as USD/JPY rallied 82 pips to close at 82.42. Meanwhile, it won a consolation victory over the euro as EUR/JPY slipped 17 pips to 108.09. Read more…
Canadian Dollar (CAD)
Wham, bam, thank you economic reports! Okay, I wouldn’t exactly win rhyming competitions, but that’s how the Loonie bulls must have felt last Friday! Thanks to better-than-expected economic data, USD/CAD was able to end the day at its open price while other comdolls fell across the board on poor risk appetite. Read more…
Australian Dollar (AUD)
Much like everything else, the Aussie was wiped out by the Greenback’s strong rally last Friday. AUD/USD completely undid its progress from Thursday as it closed 72 pips lower at 1.0571. Read more…
New Zealand Dollar (NZD)
NZD/USD closed 33 pips down from its .8245 open price on Friday then gapped lower over the weekend. Could this mean that Kiwi bears are in charge for the next few days? Read more…
Swiss Franc (CHF)
The franc’s performance was as mixed as a bag of nuts last Friday as it lost ground to the U.S. dollar but consolidated as usual against the euro. USD/CHF rallied all the way up to a high of .9208 before ending the day at .9192 while EUR/CHF stayed stuck just above 1.2050. Read more…
Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.
