Daily Forex Fundamentals – April 25, 2013

What’s on the Economic Horizon

Traders Unfazed by Weak Durable Goods Orders Data
U.K. GDP Due Today
New Zealand Trade Balance On Tap

U.S. Dollar (USD)

Are the dollar bulls and bears experiencing calm before the storm? Though the dollar slipped against most of its counterparts, traders mostly ignored the weak data that came out of the U.S. Read more…

Euro (EUR)

Chop, chop, chop! EUR/USD sliced this way and that in yesterday’s trading sessions as the pair spiked to a low of 1.2955 then zoomed up to a high of 1.3035. At the end of the day, EUR/USD was still stuck around the 1.3000 major psychological level. Read more…

British Pound (GBP)

Despite the weaker-than-expected Distributive Trades Survey, Cable still managed to climb higher yesterday. It opened the day at 1.5242, rose to an intraday high of 1.5289, and then closed the U.S. trading session at 1.5265. Read more…

Japanese Yen (JPY)

Japan didn’t print any economic data yesterday, so the yen bears were given free passes on the yen crosses. USD/JPY, EUR/JPY, and GBP/JPY all inched higher than their open prices despite the release of weak reports from the U.S., the U.K., and the euro zone. What gives? Read more…

Canadian Dollar (CAD)

Ho hum… USD/CAD’s price action was pretty dull yesterday, although the pair did have an extra kick of volatility during the New York session. USD/CAD jumped to a high of 1.0277 then dipped below the 1.0250 handle towards the end of the day. Read more…

Australian Dollar (AUD)

Weak inflation? Pfft. Ain’t nobody got time for that! The Aussie bulls shrugged off the possibility of an RBA rate hike and pushed AUD/USD 14 pips above its open price instead. Awesome! Read more…

New Zealand Dollar (NZD)

The Kiwi closed sharply higher against the Greenback yesterday, thanks to the RBNZ’s interest rate decision. NZD/USD began the day at .8408 but found itself at 71 pips higher at .9479 by the end of the U.S. trading session. Read more…

Swiss Franc (CHF)

Due to the lack of market-moving events, the Swiss franc mainly moved sideways versus the safe haven U.S. dollar for the most part of the day. USD/CHF traded between 9474 and .9443 during both the Asian and European trading session, and then posted a new 3-week high at .9500 during the U.S. session. By the end of the day, however, the pair went back down to .9472. Read more…

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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!