Daily Forex Fundamentals – April 10, 2013

What’s on the Economic Horizon

FOMC Meeting Minutes on the Clock
Chinese CPI Indicates Slower Inflation

U.S. Dollar (USD)

Relatively quiet day for the scrilla, as it pretty much stayed in range against its major counterparts. The only outliers were GBP/USD and AUD/USD, as they both climbed slightly higher. Will we see more of the same today? Read more…

Euro (EUR)

Slow and steady does it! The euro edged a little higher against the U.S. dollar in yesterday’s trading, allowing EUR/USD to reach the 1.3100 major psychological level. EUR/JPY jumped from the 128.50 area to a high of 130.09. Read more…

British Pound (GBP)

The pound continued to make headway against the U.S. dollar and the Japanese yen yesterday as GBP/USD inched up to the 1.5300 major psychological level while GBP/JPY reached a high of 152.40. Will the pound continue to rack up the gains today? Read more…

Japanese Yen (JPY)

Is the yen selling starting to slow down? With EUR/JPY and USD/JPY approaching key levels, yen weakness wasn’t as evident in the markets yesterday. The question is, how long can this continue? Read more…

Canadian Dollar (CAD)

As usual, USD/CAD moved sideways for most of the day, although volatility did pick up during the start of the U.S. session. The pair cruised between 1.0170 resistance and support near 1.0150 as Canada printed mixed reports. Will we see a breakout today? Read more…

Australian Dollar (AUD)

Surf’s up, mate! The Aussie hanged-ten yesterday as it climbed higher up the charts. AUD/USD rose 76 pips to finish at 1.0487, and is now trading at a major resistance level. Let’s see if it can break through! Read more…

New Zealand Dollar (NZD)

All aboard the risk appetite train! Positive comdoll reports as well as risk appetite in the markets kept the Kiwi bulls busy as NZD/USD broke above the .8500 handle and finished the day 62 pips higher than its open price. Read more…

Swiss Franc (CHF)

Negative data wasn’t a problem for the Swiss franc in yesterday’s trading, no Sir! USD/CHF finished the day 28 pips below its opening price at .9326 despite disappointing figures on Switzerland’s inflation and consumer spending. 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!