Daily Forex Fundamentals – March 12, 2013

What’s on the Economic Horizon
U.K. manufacturing production to stay flat?
RBNZ rate decision set for tomorrow

U.S. Dollar (USD)

Not exactly the strongest start to the week for the dollar – it gave back some of its gains as traders took a breather from last Friday’s strong rally. At the end of the day, the dollar finished weaker against all of its major counterparts except for the yen. Read more…

Euro (EUR)

Hang in there, fellas! The euro held its ground against its counterparts yesterday after a lack of data from the major economies spelled good news for the currency. EUR/USD remained above 1.3000 while EUR/JPY and EUR/GBP also showed gains. What’s up with that? Read more…

British Pound (GBP)

Cable got knocked down to another new low during yesterday’s trading as GBP/USD fell from the 1.4940 area to a low of 1.4865. GBP/JPY had a rough start as well but it managed to rally back above the 143.00 handle at the end of the day. Read more…

Japanese Yen (JPY)

Guess who was at the bottom of the dog pile? That’s right – the yen! Yesterday’s weakest performer was none other than the Japanese currency, which lost 33 pips against the dollar, 95 pips against the euro, and 57 pips against the pound. Read more…

Canadian Dollar (CAD)

It was a good day for the Loonie as the lack of reports from the U.S. and Canada made traders remember that Canada also had good employment numbers last week. USD/CAD closed 23 pips lower than its open price after dropping to an intraday low of 1.0254. Read more…

Australian Dollar (AUD)

That’s how you stage a comeback, baby! After starting the week by gapping down 29 pips to 1.0207, AUD/USD spent the rest of the day clawing its way back up the charts. When all was said and done, it finished 65 pips above its opening price at 1.0272. Read more…

New Zealand Dollar (NZD)

Way to go, little one! The Kiwi was off to a good start on Monday as NZD/USD jumped from the .8200 handle to the .8250 area. Can the Kiwi hold on to its recent gains today? Read more…

Swiss Franc (CHF)

Take that, Greenback! The Swiss franc regained ground against the U.S. dollar on Monday as USD/CHF slid from above the .9510 area to a low of .9466. The Swissy also managed to score some gains against the euro as EUR/CHF tested the 1.2350 level. 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!