Daily Forex Fundamentals – April 2, 2012

What’s on the Economic Horizon
Chinese manufacturing better than expected at 53.1
Swiss retail sales due today
U.S. ISM manufacturing PMI to improve in March?

U.S. Dollar (USD)

Time’s up for the first quarter, folks! Looking at the scorecards would reveal that the Greenback ended lower than most of its major counterparts, except for the Japanese yen. Would the Greenback have a chance to recoup some of these losses this week? Read more…

Euro (EUR)

Thanks to the slightly optimistic market environment, the euro was able to post some nice gains last Friday. After it had fallen below 1.3300 the day prior against the dollar, the euro rallied slowly to close the trading week at 1.3337. All in all, the euro was up 42 pips against the dollar for Friday. Read more…

British Pound (GBP)

Weaker confidence on the U.K. economy? No problem! Currency bulls pushed the pount higher against the dollar and the yen last Friday, with GBP/USD finishing the day with a 49-pip gain at 1.5995. Meanwhile, EUR/GBP held on to its gains with a doji at .8338. Read more…

Japanese Yen (JPY)

As though the yen’s losses on Friday weren’t bad enough, yen pairs even gapped higher over the weekend after Japan released a few weak reports. USD/JPY opened 4 pips up from the 83.00 handle while GBP/JPY started the week at 133.05. Is the Japanese yen in for more losses this week? Read more…

Canadian Dollar (CAD)

Booooooooring! Due to the absence of major market-moving events, the Loonie pretty much traded in a tight horizontal channel last Friday. It just bounced within a 50-pip range and closed the day barely changed from its opening price. Read more…

Australian Dollar (AUD)

Check out that huge upward gap that AUD/USD made over the weekend! Could this mean that the pair is ready to recover from last week’s losses or is this merely a retracement? Take a look at the upcoming data from Australia to find out! Read more…

New Zealand Dollar (NZD)

Who’s the little player now? The Kiwi was the most resilient comdoll against the dollar last Friday with NZD/USD climbing to an intraday high of .8230 and ending the day with a 20-pip gain while the Aussie and the Loonie closed in the red. Read more…

Swiss Franc (CHF)

Let’s all give the franc a lil’ pat on the back! Thanks to a positive Swiss report and risk aversion in markets, the low-yielding franc posted gains against its major counterparts. USD/CHF fell by 40 pips to .9027, while EUR/CHF also slipped by 16 pips to 1.2039. 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!

  • Daily Reader

    Is it possible for you to make all your daily commentaries be read as one page? Would be much smoother so you don’t have to click each report individualy and having to open it up as a new page.

    Anyhow really informative and great stuff!