Daily Forex Fundamentals – April 15, 2013

What’s on the Economic Horizon

Chinese GDP Report On Tap!
U.S Retail Sales Disappoint
Cyprus Bailout Capped at 10 billion EUR?

U.S. Dollar (USD)

Aww, snap! The dollar gave up ground against most of its counterparts on Friday following the disappointing U.S. retail sales report. USD/JPY was down 121 pips for the day at 98.64. Meanwhile, the dollar pared the gains it racked earlier on in the day from the euro, when EUR/USD bounced off 1.3050 and closed at 1.3103. Read more…

Euro (EUR)

Bounce-bounce, bounce-bounce! On Friday, EUR/USD had been trading lower when the euro pulled off an R. Kelly on the charts, putting its comeback on ignition in the New York session. (Ha!) It erased almost all the losses it incurred earlier on in the day, finishing just a pip below its opening price at 1.3103. Read more…

British Pound (GBP)

Tough luck for the pound bulls, as they simply couldn’t sustain the momentum gained from the previous couple of trading days. GBP/USD basically gave back all of its Thursdays gains, as it ended the day trading around 1.5350. What could be in store for us this week? Read more…

Japanese Yen (JPY)

And the losing streak ends! For the first time in seven days, the yen finally finished with a win against EUR/JPY. The pair closed 160 pips below its opening price at 129.25. It also scored a win against the dollar as USD/JPY closed at 98.64 after starting the day at 99.85. Boo yeah! Read more…

Canadian Dollar (CAD)

The Loonie joined its comdoll buddies on the winners’ bench yesterday. USD/CAD finished lower at 1.0106 after opening at 1.0145. Boo yeah! Read more…

Australian Dollar (AUD)

The Aussie was no match for the dollar in Friday’s trading. For the first time in five days, AUD/USD closed lower from its opening price. The pair had settled at 1.0515 by the end of the New York session after opening at 1.0545. Read more…

New Zealand Dollar (NZD)

With the dollar on a roll on Friday, the Kiwi slipped down the charts. NZD/USD ended the week with a 45-pip loss, closing at .8591. What caused the Kiwi to lose its appeal?! Read more…

Swiss Franc (CHF)

Slow but sure, baby! For the 10th time in the past 12 trading days, the franc gained versus the dollar, as USD/CHF closed at .9286, down 23 pips on the day. 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!