Daily Forex Fundamentals – April 16, 2013

What’s on the Economic Horizon

China’s GDP and Cyprus bailout inspired risk aversion
Canadian manufacturing sales on tap
Falling gold prices hits the comdolls

U.S. Dollar (USD)

What a start to the week for the Greenback! With all the bad data hitting the markets, the dollar benefitted from a nice run of risk aversion, as it simply dominated the rest of the major currencies. Read more…

Euro (EUR)

With risk aversion rocking the markets, the euro took a big hit in yesterday’s trading session. EUR/USD fell 78 pips to finish at 1.3033, while EUR/JPY closed at 126.15, marking a massive 263-pip loss. Read more…

British Pound (GBP)

Ka-pow! Like most of the higher-yielding majors, the pound took a hit from the dollar and the yen in yesterday’s trading. GBP/USD fell from an intraday high of 1.5386 to close the day with a 58-pip loss at 1.5282. Meanwhile, GBP/JPY was down 278 pips at 147.91. Read more…

Japanese Yen (JPY)

And just like that, USD/CAD is back trading above 1.0200! With oil prices dropping below $90 a barrel, the Canadian dollar took a big hit in yesterday’s trading, as USD/CAD rose 109 pips to finish at 1.0254. Read more…

Canadian Dollar (CAD)

And just like that, USD/CAD is back trading above 1.0200! With oil prices dropping below $90 a barrel, the Canadian dollar took a big hit in yesterday’s trading, as USD/CAD rose 109 pips to finish at 1.0254. Read more…

Australian Dollar (AUD)

Talk about going down under! The Australian dollar suffered a massive selloff during yesterday’s trading as AUD/USD slipped to the 1.0300 area while AUD/JPY dipped to the 99.00 level. What the heck happened? Read more…

New Zealand Dollar (NZD)

Boy, did the Kiwi go down swingin’ on the charts! Yesterday, the currency sustained a whopping 184-pip loss from the dollar as NZD/USD closed at .8379. Ouch! Read more…

Swiss Franc (CHF)

Uh oh. The Swiss franc has ran out of fuel! USD/CHF closed higher for the first time in three days yesterday. The pair was up at .9321 after opening at .9277 by the New York session close. 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!