Daily Forex Fundamentals – April 13, 2012

What’s on the Economic Horizon
U.K. producer price figures on tap
U.S. headline and core CPI to show 0.2% uptick?

U.S. Dollar (USD)

Why is there a huge letter “L” on the Greenback’s forehead? Oh, that’s right, the U.S. currency was such a big loser yesterday! Risk appetite reigned supreme and pushed higher-yielding currencies up against its safe-haven counterparts. EUR/USD came close to breaking above the 1.3200 handle while USD/CAD sank back below parity. Read more…

Euro (EUR)

The euro participated in yesterday’s risk rally and left its major counterparts eating dust. It gained 82 pips against the dollar, while rising 61 pips against the yen. Booyeah! That’s two in a row now, baby! Read more…

British Pound (GBP)

Make that back to back for Lady Cable! Once again, the pound rose up the charts, posting decent 56-pip and 38-pip victories versus the dollar and yen respectively. Can the pound bulls make it three in a row to end the week? Read more…

Japanese Yen (JPY)

Make that three in a row! The Japanese yen chalked up its third day of consecutive losses against its major counterparts as risk appetite improved in the markets yesterday. EUR/JPY ended the day at 106.64 while GBP/JPY closed 7 pips above the 129.00 handle. Will the yen continue its losing streak until the end of this week? Read more…

Canadian Dollar (CAD)

The Loonie brushed off yesterday’s weaker-than-expected trade data as USD/CAD posted its largest daily gain for 2012. From its opening price, the pair headed straight down the charts to record a 98-pip slide by ending the day at .9944. Read more…

Australian Dollar (AUD)

Way to go, Aussie! Thanks to better than expected jobs data and strong figures from China, Aussie pairs pocketed plenty of gains in yesterday’s trading with AUD/USD breaking above the 1.0400 handle and AUD/JPY closing at 84.37. Will the Aussie be able to hold on to its gains today? Read more…

New Zealand Dollar (NZD)

With the beat of risk appetite booming throughout the markets, the Kiwi flew higher and closed 93 pips higher at .8267. Just take a look at that daily candle baby! Read more…

Swiss Franc (CHF)

Thanks to overall dollar weakness, the franc was able to edge ahead in yesterday’s trading matches. USD/CHF finished at .9111, 64 pips below its opening price. 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!