Daily Forex Fundamentals – April 3, 2013

What’s on the Economic Horizon

ADP Employment Change Pointing to a Stronger Job Market?
U.K. Construction PMI Expected to Get Better
Australian Trade Balance Impresses

U.S. Dollar (USD)

The U.S. dollar showed some firmness yesterday as it was able to rally against most major currencies. Against the euro, for instance, the dollar managed to gain a decent 30 pips. Against the pound, the dollar scored 128 pips. Read more…

Euro (EUR)

Where to, euro? It seems that both the euro bulls and bears were startled into activity as the region released mixed economic reports. EUR/USD fell by 31 pips but EUR/GBP popped up by 52 pips. What gives? Read more…

British Pound (GBP)

Oh, the bloodbath! The pound got heavily beaten during yesterday’s trading with GBP/USD falling close to the 1.5100 handle and GBP/JPY tumbling to the 141.00 mark. What the heck happened and will the pound have a chance to recover today? Read more…

Japanese Yen (JPY)

Unfortunately, the Japanese yen was unable to keep up its stellar performance yesterday. It actually lost versus the U.S. dollar and gave up 13 pips. USD/JPY opened at 93.32 and then closed the day at 93.45. Read more…

Canadian Dollar (CAD)

What a close match! The Loonie bulls dominated USD/CAD in the early trading sessions yesterday but risk aversion dragged the pair from its intraday lows and capped its losses to only 18 pips. What the heck happened? Read more…

Australian Dollar (AUD)

Thanks to the RBA interest rate statement, AUD/USD was able to climb in yesterday’s trading session. The pair, which started the day at 1.0422, closed the U.S. trading session with a respectable 25-pip gain at 1.0447. Read more…

New Zealand Dollar (NZD)

The Kiwi had a pretty good day yesterday as NZD/USD surged past the .8400 handle and reached a high of .8445. Will the pair be able to hold on to its gains today? Read more…

Swiss Franc (CHF)

Price action was as tight as usual for franc pairs as USD/CHF moved by only 40 pips during yesterday’s trading. The pair was able to find support around .9450 but was unable to sustain its rally past .9490. Can we expect the same for today? 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!