Daily Forex Fundamentals – April 5, 2013

What’s on the Economic Horizon

U.S. Employment Report to Dictate Today’s Price Action
BOJ’s Kuroda Finally Acts
Canadian Jobs Data on Deck

U.S. Dollar (USD)

You win some, you lose some! The Greenback’s performance yesterday was a mixed bag as it gained a significant amount of ground versus the low-yielding yen and the Aussie but lost terribly versus the major European currencies. Read more…

Euro (EUR)

Super Mario does it again! Yesterday the euro got a double boost from the BOJ’s aggressive monetary policy as well as optimism over the ECB’s commitment to the region’s crisis. What the heck did he say that boosted EUR/USD 89 pips above its open price? Read more…

British Pound (GBP)

My, my! What a rally by the pound! GBP/USD climbed all the way back above the 1.5200 major psychological level during yesterday’s trading while GBP/JPY skyrocketed to the 146.00 area. What the heck caused those rallies? Read more…

Japanese Yen (JPY)

It’s a bloodbath! No thanks to the BOJ’s interest rate decision, the Japanese yen took a major hit against all the major currencies yesterday. USD/JPY, for instance, rallied more than 350 pips to close the day at 96.20. Meanwhile, EUR/JPY surged 500 pips to end at 124.44. Read more…

Canadian Dollar (CAD)

The Loonie is on a roll! USD/CAD extended its losing streak as the Loonie gained another 23 pips on the Greenback. And to think that Canada didn’t even release any economic report! Read more…

Australian Dollar (AUD)

Good data? Who cares? Despite the extremely positive results of Australia’s building approvals and retail sales, AUD/USD still ended up in the negative yesterday. The pair closed at 1.0437, 19 pips lower from its opening price during the Asian session. Read more…

New Zealand Dollar (NZD)

Well that was one of the Kiwi’s more volatile days, wasn’t it? NZD/USD broke below the .8400 handle during the Asian session and reached a low of .8363, but it was able to rebound right back above .8400 in the New York session. What was that all about? Read more…

Swiss Franc (CHF)

And the .9500 handle holds once more! USD/CHF made a beeline for the .9500 major psychological resistance during the Asian session but made a quick turnaround and headed south for .9400. Will we see a bounce or a break 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!