Daily Forex Fundamentals – April 30, 2013

What’s on the Economic Horizon
U.S. CB consumer confidence and Chicago PMI due
Canadian monthly GDP set for release

U.S. Dollar (USD)

Oh no, not again! The U.S. dollar lost further ground to its major counterparts in yesterday’s trading as U.S. data came in mostly below expectations. EUR/USD jumped up to the 1.3100 handle while USD/JPY slipped below 98.00. Will the Greenback be able to bring sexy back today? Read more…

Euro (EUR)

Surprise, surprise! The euro seems to be gaining bullish momentum ahead of the ECB rate statement! Buyers took EUR/USD another 59 pips higher yesterday, propping the pair up just below the 1.3100 handle. Will the shared currency continue defying gravity? Read more…

British Pound (GBP)

Party’s over, boys! The pound failed to secure a three-peat against its counterparts yesterday as GBP/USD capped the day near its open price while GBP/JPY fell by 10 pips and EUR/GBP shot up by 37 pips. What gives? Read more…

Japanese Yen (JPY)

The lack of liquidity wasn’t enough to stop the yen from getting any action in yesterday’s trading, as USD/JPY jumped from a low of 97.35 to a high of 98.20. With Japanese markets set to reopen today, will we see bigger moves from yen pairs? Read more…

Canadian Dollar (CAD)

I hope you guys are keeping track because that’s FOUR days in a row now that the Loonie ended higher against the Greenback! Once again, traders went nuts for the Canadian currency, taking USD/CAD down 56 pips to end at 1.0115. Let’s see if it can extend its streak for another day! Read more…

Australian Dollar (AUD)

Slowly but surely, AUD/USD crawled up to the 1.0350 minor psychological resistance in yesterday’s trading and consolidated in that area. Will we see a breakout in either direction today? Read more…

New Zealand Dollar (NZD)

Weak economic report? Meh. Kiwi traders shrugged off New Zealand’s data in favor of rising commodity prices and higher comdoll appetite. NZD/USD closed 73 pips higher than its open price after hitting an intraday high at .8577. Read more…

Swiss Franc (CHF)

Who needs economic data when other economies are already providing enough action? Both USD/CHF and EUR/CHF suffered losses yesterday thanks to weak U.S. data and risk aversion in the euro region. 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!