Daily Forex Fundamentals – April 12, 2012

What’s on the Economic Horizon
Better than expected jobs data from Australia
Canadian trade balance due today
U.S. producer prices up by 0.3% in March?

U.S. Dollar (USD)

The scrilla was generally weaker across the board, as risk appetite support a mini rally in higher yielding currencies. EUR/USD finished at 1.3106, 25 pips above its opening price, while GBP/USD managed to gain 38 pips and closed at 1.5907. Read more…

Euro (EUR)

The euro edged higher against its lower-yielding counterparts, namely the U.S. dollar and the Japanese yen, with EUR/USD ending 25 pips up from its 1.3081 open price and EUR/JPY closing 3 pips above the 106.00 handle. Will the euro be able to hold on to its gains today? Read more…

British Pound (GBP)

Did someone press CTRL+Z? Because the British pound just undid all of its losses from Tuesday! With no major events on the calendar, GBP/USD was able to rise 38 pips and close at 1.5907. Read more…

Japanese Yen (JPY)

After Tuesdays steep drop, Bank of Japan officials probably released a sigh of relief when they saw yen crosses trade higher yesterday. EUR/JPY backed off its lows and finished just above the 106.00 handle, while GBP/JPY finished 70 pips higher at 128.70. Read more…

Canadian Dollar (CAD)

The Loonie’s really keepin’ it tight yo! USD/CAD moved sideways in a small range between 1.0020 and 1.0050 yesterday before closing at 1.0033. Is there any catalyst for a breakout today? Read more…

Australian Dollar (AUD)

The Australian dollar benefited from the small risk rally we say yesterday, as it nearly recovered all its losses from the day prior. AUD/USD rose from its daily low at 1.0226 to finish at 1.0298, about 35 pips above its opening price for the day. Read more…

New Zealand Dollar (NZD)

With no big events on the calendar to shake the markets, the Kiwi was able to snatch a few pips away from the Greenback. NZD/USD trended up the entire day, slowly crawling up the charts to post a 31-pip gain and finish at .8174. Will it do the same today? Read more…

Swiss Franc (CHF)

The Swissy flirted with danger but it was ultimately rejected! Ouch! Methinks it needs tips from our resident ladies man, Big Pippin! EUR/CHF came close to touching the 1.2000 handle, reaching an intraday low of 1.2007. But the market headed north in the New York session, forcing the pair to turn away and finish the day at 1.2025. 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!