Daily Forex Fundamentals – April 18, 2012

What’s on the Economic Horizon

U.K. set to rock the markets with MPC minutes and employment data
Swiss ZEW economic expectations report on tap
BOC to deliver monetary policy report
New Zealand quarterly CPI seen at 0.6%

U.S. Dollar (USD)

Mixed reports beget mixed results! Just as yesterday’s housing data gave both positive and negative feedback, the dollar’s performance had both its good and bad points. While it strengthened slightly against both the euro and the yen, it was unable to score a single win against the comdolls. Will we get more of the same today? Read more…

Euro (EUR)

After getting off to a slow start, the euro was able to turn things around for the second day in a row, and close significantly higher from its lows. After hitting a low at 1.3090, EUR/USD rallied to as high 1.3173 before settling at 1.3127, down just 10 pips from its opening price. Meanwhile, EUR/JPY finished 50 pips higher to end the day at 106.18. Read more…

British Pound (GBP)

Investors found the pound hot-hot-hot! in yesterday’s trading following the release of U.K.’s CPI figures. GBP/USD rallied from its intraday low of 1.5862 and closed the day at 1.5950. Meanwhile, GBP/JPY ended the day with a 101-pip win at 128.89. Read more…

Japanese Yen (JPY)

The Bank of Japan must’ve breathed a sigh of relief when they saw the way the yen sold off yesterday! It weakened against ALL of its major counterparts! For instance, USD/JPY rallied 45 pips to 80.89 while EUR/JPY climbed 50 pips to 106.18. Read more…

Canadian Dollar (CAD)

Thanks to some hawkish comments from the Bank of Canada, the Canadian dollar trampled all over the Greenback yesterday. USD/CAD dropped an impressive 96 pips to finish just a hair above the .9900 handle. So what exactly did the BOC say? Read more…

Australian Dollar (AUD)

Even though the RBA hinted at a possible rate cut in its monetary policy meeting minutes, the Aussie managed to keep its head above water as risk appetite buoyed it to safety. AUD/USD recovered from its intraday low of 1.0304 to end the day at 1.0396, up 40 pips on the day. Read more…

New Zealand Dollar (NZD)

Just when everyone thought all hope was lost for the Kiwi, dropping more than 50 pips to .8150 in the Tokyo session, the comdoll hustled some muscle against the dollar. NZD/USD rallied to end the day 14 pips above its opening price at .8216. Read more…

Swiss Franc (CHF)

Support at the .9150 minor psychological handle just seemed too darn strong for franc bulls in yesterday’s trading. USD/CHF pretty much traded around the level, ending the day 3 pips above its opening price at .9152. 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!