Daily Forex Fundamentals – April 23, 2012

What’s on the Economic Horizon

German, French PMIs on Tap
Australian PPI Prints Weaker-Than-Expected
FOMC Statement Scheduled for Wednesday

U.S. Dollar (USD)

That is NOT how you wanna end the week! The doolar took a beating across the charts, as lost out against the euro, pound, and the comdolls. Will the dollar make a comeback or will the sell-off continue? Read more…

Euro (EUR)

Euro bulls celebrated 4/20 right by getting high off pips! Thanks to better-than-expected data and optimism for more funding from the IMF, EUR/USD traded past resistance at 1.3150 and closed the week 75 pips above Friday’s opening price at 1.3210. Read more…

British Pound (GBP)

Don’t take the power of consumers too lightly! Thanks to a very strong retail sales report, Cable was able to stage a magnificent rally last Friday. The pair ended the day at 1.6120, 62 pips higher from its opening price during the Asian trading session. Read more…

Japanese Yen (JPY)

With the markets focused on grabbing all the higher yielding currencies it could to satisfy its risk appetite, the yen was left out to dry last Friday. EUR/JPY rose 60 pips to finish at 107.75, while GBP/JPY climbed up to 131.48, marking a 49-pip gain on the day. Read more…

Canadian Dollar (CAD)

Easy does it, Loonie! The comdoll was finally able to pare some of its losses against the dollar on Friday despite disappointing inflation figures. USD/CAD traded lower after opening the day at .9952. By the day’s close, the pair was down at .9925. Read more…

Australian Dollar (AUD)

Despite the lack of any hard data, Friday wasn’t a waste, as the Aussie rode the wave of risk appetite to edge higher. AUD/USD managed to post a 33-pip victory to finish at 1.0369. Will the Aussie continues its roll today? Read more…

New Zealand Dollar (NZD)

Despite its empty economic calendar, the Kiwi showed some strength last Friday. Risk sentiment got better, which allowed higher-yielding Kiwi to rally 33 pips higher versus the safe haven Greenback. Read more…

Swiss Franc (CHF)

In the game of currencies, you either win or lose. Fortunately, the Swissy was of the winning camp. The currency managed to stage a nice rally last Friday, closing the day 56 pips higher versus the Greenback. 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!

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