Daily Forex Fundamentals – April 30, 2012

What’s on the Economic Horizon
RBA to cut rates by 0.25% this week?
Canadian monthly GDP reading due today
U.S. core PCE price index and personal spending data on tap

U.S. Dollar (USD)

Did the Greenback just anger the Incredible Hulk? Then why, oh why, did it get heavily clobbered last Friday? EUR/USD jumped to its three-week high of 1.3271 while GBP/USD carried on with its rally above the 1.6200 handle. Take a look at the upcoming events to figure out if the U.S. dollar will get smashed again this week. Read more…

Euro (EUR)

Can we just call the euro the Comeback Kid?? After dropping to as low as 1.3157 last Friday, the euro made a late comeback versus the dollar and managed to finish at 1.3237, marking just a 2-pip loss on the day. Read more…

British Pound (GBP)

There’s no stopping the pound bulls! Thanks to risk appetite in markets, the pound was able to continue its winning streak against its counterparts. GBP/USD, for example, rose by another 63 pips to 1.6256. Read more…

Japanese Yen (JPY)

The Japanese yen managed to hold its ground against its counterparts last Friday, with USD/JPY closing 38 pips above the 80.00 handle and EUR/JPY ending the week at 106.40. AUD/JPY suffered a slight loss as it landed 5 pips below its 84.13 open price while GBP/JPY closed at 130.66. Read more…

Canadian Dollar (CAD)

What a week for the Canadian dollar! After coming out ahead four times out of five last week, the Canadian dollar posted a sweet 108-pip victory last week to finish at .9810. Will the good times roll or are we in for a shock like the Canucks playoff disaster? Read more…

Australian Dollar (AUD)

You win some, you lose some. The Australian dollar had a mixed performance on Friday as it managed to outpace the U.S. dollar but lost ground to the Japanese yen. AUD/USD rallied above the 1.0450 mark and closed at 1.0461 while AUD/JPY dipped to a low of 83.56 before landing at 84.08. Read more…

New Zealand Dollar (NZD)

Now that’s how you break a tight range! Risk appetite pushed the high-yielding comdolls last Friday, and boosted NZD/USD to an intraday high of .8243 before it capped the day with a 69-pip gain to .8225. Read more…

Swiss Franc (CHF)

Not even the franc missed the currency lovin’ last Friday! Thanks to positive Swiss data, the franc was able to score some pips against the euro and the dollar with USD/CHF falling from its .9134 intraday high and ending the day back near its open price at .9079. 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!