Daily Forex Fundamentals – April 10, 2012

What’s on the Economic Horizon

No Changes from BOJ?
EZ Sentix Investor Confidence Index on Tap

U.S. Dollar (USD)

Without any market-moving event from the U.S., the dollar continued to groove to the disappointing March NFP report which was released last Friday. It scored losses against most of its major counterparts except for the yen and Swiss franc. The USDX also closed lower at 80.223 after opening at 80.391. Read more…

Euro (EUR)

Talk about starting the week right! The euro edged slightly higher than the Greenback and the Japanese yen in Monday’s trading as risk appetite improved in the markets. EUR/USD managed to find support around the 1.3050 level before closing at 1.3114 while EUR/JPY ended 3 pips higher than the 107.00 handle. Read more…

British Pound (GBP)

Though U.K. banks were closed in celebration of Easter Monday, the pound managed to grab a few pips here and there against its major counterparts. GBP/USD closed 29 pips above last Friday’s close at 1.5905 after gapping up over the weekend. Meanwhile, GBP/JPY inched up 27 pips to finish at 129.82. Read more…

Japanese Yen (JPY)

Seems like the yen bulls can only go for three! The yen finally snapped its 3-day winning streak against other major currencies yesterday as traders came back from their long weekend. USD/JPY, for instance, closed the U.S. trading session with a small 11-pip win. Read more…

Canadian Dollar (CAD)

Check out the 1.0000 handle holdin’ like a boss for USD/CAD! The pair may have gapped higher over the weekend but the Loonie held its ground and managed to outpace the U.S. dollar in yesterday’s trading. Will the Canadian currency be able to hold on to its gains today? Read more…

Australian Dollar (AUD)

The Aussie took another small step up the charts yesterday as it recorded its third straight victory against the Greenback. Though AUD/USD traded relatively flatly, it ended the day 24 pips higher at 1.0322. Will its streak end at three or will it post a fourth day of gains? Read more…

New Zealand Dollar (NZD)

While many traders were busy catching some Zs with their extended weekend, the New Zealand dollar stole a few pips away from its counterparts. For instance, it snatched 45 pips away from the Greenback, pushing NZD/USD up to close at .8230. Read more…

Swiss Franc (CHF)

It seems that Swiss bankers weren’t the only ones on holiday yesterday. Judging by USD/CHF and EUR/CHF price action, the Swissy was enjoying an extended vacation as well! After a full day of trading, USD/CHF only moved 1 pip up to .9168 while EUR/CHF crawled 8 pips up to 1.2022. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.

Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!

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