Daily Forex Fundamentals – April 17, 2013

What’s on the Economic Horizon

U.K. Jobs Data and MPC Meeting Minutes Due Today
BOC To Hint At Future Rate Cuts?
New Zealand CPI Higher At 0.4%

U.S. Dollar (USD)

Where did all ’em dollar bulls go? After finishing at the top of the pack last Monday, the dollar gave up ground to all of its higher-yielding counterparts in yesterday’s trading. It was only able to finish the day higher against the yen. What gives?? Read more…

Euro (EUR)

EUR/USD found some legs yesterday, thanks to the sharp contrast between the results of the economic data released in the euro zone and the U.S. The pair, which had begun the day at 1.3033, was able to close the U.S. trading session significantly higher at 1.3182. Read more…

British Pound (GBP)

That’s what I call a comeback baby! The pound bulls ended the day on a strong note, allowing GBP/USD to finish at 1.5375, a solid 94 pips above its opening price. Could we see more of the same today?! Read more…

Japanese Yen (JPY)

Curse you, risk appetite! The yen gave up almost all of its gains from Monday in yesterday’s trading as its higher-yielding counterparts rallied. USD/JPY finished the day higher at 97.60 after opening at 96.79. Meanwhile, EUR/JPY closed higher at 128.65 from its opening price of 126.13. Read more…

Canadian Dollar (CAD)

IAnd 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)

Aussie, Aussie, oi, oi, oi! The comdoll finally made a comeback yesterday after two days of massive selling. AUD/USD found support at the 1.0300 handle to finish the day 97 pips higher at 1.0396. Read more…

New Zealand Dollar (NZD)

With risk appetite creeping back into the markets, the Kiwi made a nice recovery in yesterday’s trading action. After bottoming out at .8378, NZD/USD rallied hard and managed to finish the day at .8503. Read more…

Swiss Franc (CHF)

The franc was a big winner yesterday, as it simply dominated the Greenback. The end result? A 100-pip drop in USD/CHF, as the pair closed at .9220! The question is, can this be sustained? 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!