Daily Forex Fundamentals – March 11, 2013

What’s on the Economic Horizon
Upside surprise in U.S. jobs data
Japanese tertiary activity index due today

U.S. Dollar (USD)

Dollar domination, baby! Strong U.S. NFP figures boosted the Greenback against its major counterparts last Friday as EUR/USD slipped back to the 1.3000 area while USD/JPY surged to the 96.50 minor psychological level. Will the dollar rally continue today? Read more…

Euro (EUR)

Boy, did the markets do a number on the euro or what! It practically erased all of its gains from Thursday, as EUR/USD dropped 105 pips to greet the weekend at 1.3003. What the heck happened? Read more…

British Pound (GBP)

The pound’s price action was as mixed as the colors of my sneakers when a positive U.S. jobs data sparked risk appetite but boosted the Greenback at the same time. Cable dropped to its two-and-a-half year lows at the NFP report while Guppy capped the day with a 14-pip gain. Read more…

Japanese Yen (JPY)

The yen sure knows how to mix things up, doesn’t it? While the Japanese currency lost ground to the U.S. dollar on Friday, it was able to sneak in some gains against the euro and pound. EUR/JPY dipped to a low of 123.81 before ending the day close to the 125.00 handle while GBP/JPY reached a low of 142.68. Read more…

Canadian Dollar (CAD)

Let’s call it a stalemate! USD/CAD ended the day unchanged as the Loonie held its ground against the Greenback’s advances. After trading as high as 1.0316 and as low as 1.0234, the pair eventually settled right at its opening price of 1.0288. Read more…

Australian Dollar (AUD)

Timber! The Australian dollar tumbled against the Greenback during last Friday’s New York session as AUD/USD moved closer to the 1.0200 major psychological support. Will this level still hold this week or is the Aussie in for a breakdown? Read more…

New Zealand Dollar (NZD)

High-yielding currencies experienced bloodshed from the Greenback last Friday and the Kiwi was no exception. NZD/USD crashed 83 pips lower than its open price after hitting an intraday low at .8187. What the heck happened to the comdolls?! Read more…

Swiss Franc (CHF)

Like the other major currencies, the franc got clobbered by its counterparts in the aftermath of the U.S. NFP data. USD/CHF shot up by 88 pips while EUR/CHF also experienced a 14-pip uptick. Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!