Daily Forex Fundamentals – April 16, 2012

What’s on the Economic Horizon

U.S. Retail Sales Figures on Tap
Swiss PPI Due Today
Spanish Debt Sales Results Available During London Session

U.S. Dollar (USD)

Winner winner, chicken dinner! The dollar hit a few blackjacks last Friday, as it blew past the euro and the pound. EUR/USD dropped 112 pips to finish at 1.3076, while GBP/USD closed at 1.5845, down 117 pips from its opening price. Read more…

Euro (EUR)

Talk about being unlucky on Friday the 13th! The euro got sold-off against most of its major counterparts as risk aversion crept back into the markets. EUR/USD closed 122 pips below its opening price at 1.3076. Meanwhile, EUR/JPY dropped from its intraday high of 107.10 to end the day with a 70-pip loss at 105.94. Read more…

British Pound (GBP)

Abracadabra! And just like that, the pound’s gains from Wednesday and Thursday are gone! With risk aversion dictating price action, the pound lost major ground against the dollar last Friday. As a result, GBP/USD greeted the weekend 117 pips lower on the day at 1.5845. Can we expect it to further weaken this week? Read more…

Japanese Yen (JPY)

With risk aversion taking over the markets, it was a great day to be a yen bull. The yen gained 70 pips against the euro and pound, leaving EUR/JPY and GBP/JPY to finish at 105.94 and 128.38 respectively. Read more…

Canadian Dollar (CAD)

After the Loonie took two steps forward on Thursday with its strong rally against the dollar, it took a step back on Friday and pared some of its wins as risk aversion kicked in. USD/CAD bounced from support around .9950 and closed 40 pips above its opening price at .9984. Read more…

Australian Dollar (AUD)

Just like the rest of comdolls, the bulls chilled out on the Australian dollar, as a wave of risk aversion wiped out any optimism in the markets. AUD/USD came crashing down from its opening of 1.0434 to finish at 1.0368, marking a 66-pip loss on the day. Read more…

New Zealand Dollar (NZD)

Extra, extra! Read all about it! NZD/USD’s range stays intact! The pair looked as though it was about to say “Adios!” to its 6-week range, but it was unable to close above resistance at .8270. After reaching an intraday high of .8322, the NZD/USD came spiraling down, ending the day 30 pips lower at .8237. Read more…

Swiss Franc (CHF)

The market environment sided with Swissy bears last Friday as the Swiss currency sold off against its two major counterparts. A broad-based dollar rally saw USD/CHF climb 88 pips to close at .9199. Meanwhile EUR/CHF gave the SNB a bit of relief as it inched up 13 pips to greet the weekend at 1.2029. Read more…

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