Daily Forex Fundamentals – April 1, 2013

What’s on the Economic Horizon

China’s manufacturing PMI Misses Expectations
EZ, Switzerland, and the U.K. are Still on Bank Holidays
U.S. ISM Manufacturing PMI on Tap

U.S. Dollar (USD)

With most of the major economies on a Good Friday bank holiday, the dollar didn’t make any significant moves against its counterparts. But check out what happened to the Greenback last Thursday! Read more…

Euro (EUR)

And the selloff continues! EUR/USD struggled to stay above the 1.2800 major psychological level on Friday but it appears ready for a breakdown today. EUR/JPY, on the other hand, is still putting up a fight and trying to hold on to 120.50. Read more…

British Pound (GBP)

As expected, with most major banks out on holiday, Friday turned out to be a very slow day in terms of price action. Cable exhibited little volatility as it simply paced back and forth between a 50-pip range. The currency pair found resistance at 1.5220 and support at 1.5180. Read more…

Japanese Yen (JPY)

Looks like speeches just ain’t cutting it anymore, Mr. Kuroda! Though the new BOJ head honcho gave another speech last week, the yen pairs ended up all over the charts late last week. USD/JPY and EUR/JPY ended up with near dojis in the last days of trading even though reports were released in Japan. Read more…

Canadian Dollar (CAD)

Ho humm… USD/CAD simply rocked back and forth between the 1.0150 area and the 1.0170 mark on Friday as most banks were off on a holiday then. The pair appears to be breaking higher at the start of this week as it already reached the 1.0180 area during today’s Asian session. Read more…

Australian Dollar (AUD)

The last trading days of last week didn’t provide relief for the Aussie bulls as the high-yielding currency continued to weaken against the Greenback. AUD/USD fell by another 33 pips on Thursday and capped the week 28 pips lower than its open price. Read more…

New Zealand Dollar (NZD)

NZD/USD was dead, dead, dead last Friday as most traders were out in observance of the holidays. The currency pair barely exhibited movement as it only moved within a 20-pip (yes, that’s right) horizontal channel. Read more…

Swiss Franc (CHF)

Due to the absence of economic catalysts, the franc barely moved against both the dollar and the euro last Friday. USD/CHF, for instance, traded within a very tight 30-pip range. Read more…

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