Daily Forex Fundamentals – April 2, 2013

What’s on the Economic Horizon
RBA to keep rates unchanged at 3.00%
Downside surprise in U.K. manufacturing PMI?

U.S. Dollar (USD)

The U.S. dollar lost ground to most of its counterparts during yesterday’s trading as EUR/USD reached a high of 1.2868 while GBP/USD rallied above the 1.5200 handle. Will the Greenback extend its losing streak today? Read more…

Euro (EUR)

Someone has been going to the gym! Despite thin trading conditions, the euro was still able to flex its muscles versus the dollar in yesterday’s trading session. EUR/USD, which began the Asian session at 1.2806, closed the day strongly at 1.2847. Read more…

British Pound (GBP)

With the U.K. out on a banking holiday, the pound’s price action was dependent on the other currencies’ direction. Dollar weakness boosted GBP/USD by 34 pips while yen strength dragged GBP/JPY by a whopping 103 pips. Read more…

Japanese Yen (JPY)

Way to go, little one! The Japanese yen rallied against its rivals during yesterday’s trading as USD/JPY edged close to the 93.00 handle. Will it be able to hold on to its recent gains? Read more…

Canadian Dollar (CAD)

If this keeps up, I might have to start calling the Canadian dollar “Zzzoonie” instead! For the fourth straight day, USD/CAD’s price action was unable to pick a clear direction. The pair simply moved horizontally, finding support at 1.0160 and resistance at 1.0184. Read more…

Australian Dollar (AUD)

After dipping to the 1.0400 support area, AUD/USD was able to resume its rally during yesterday’s trading as it reached a high of 1.0432. With the RBA statement scheduled today, will the Aussie be able to hold on to its gains and go for more? Read more…

New Zealand Dollar (NZD)

Who needs economic data when the dollar’s price action is enough to motivate the Kiwi traders? The economic cupboard was empty in New Zealand yesterday but it didn’t stop the Kiwi bulls from pushing NZD/USD to an intraday high 23 pips above its open price. Not a bad start to the week, eh? Read more…

Swiss Franc (CHF)

Both Switzerland and the euro region were on banking holidays yesterday so the franc only moved against the Greenback. Dollar weakness dragged USD/CHF to a close 33 pips lower than its open price. 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!