Daily Forex Fundamentals – March 13, 2013

What’s on the Economic Horizon
Australia’s Home Loans Disappointed Expectations
US Retail Sales Due Today

U.S. Dollar (USD)

With no major data coming out of the U.S., the dollar’s price action depended on its counterparts. EUR/USD ended the day with a stalemate but USD/JPY fell by 28 pips. Cable also registered a 16-pip loss after recovering from its 1.4831 intraday low. Read more…

Euro (EUR)

Ho humm… EUR/USD continued to move sideways for yet another day, although volatility did pick up a bit during the London session. The pair surged to a high of 1.3073 then fell right back to the 1.3025 area during the U.S. session. Read more…

British Pound (GBP)

Oh boy! There it goes again! Thanks to ugly production figures, the pound resumed its slide and carved a new low against the dollar. GBP/USD dropped to as low as 1.4831 before settling at 1.4905 with a 16-pip loss on the day. Read more…

Japanese Yen (JPY)

Who’s the loser now? The yen inched higher across the board yesterday when rumors about a BOJ Deputy candidate hinted that Shinzo Abe might encounter a roadbump on his easing plans. USD/JPY dropped by 28 pips while EUR/JPY fell by 42 pips. Read more…

Canadian Dollar (CAD)

That 1.0250 minor psychological level is still holding like a boss for USD/CAD! The pair moved sideways for almost the entire day as it spiked up to a high of 1.0284 then settled right back where it started for the day. Will we see more movement today? Read more…

Australian Dollar (AUD)

Who needs economic data when interest rate speculations can boost the Aussie just fine? Despite the weak data from Australia, AUD/USD managed to extend its win by another 52 pips. What’s up in the Land Down Under? Read more…

New Zealand Dollar (NZD)

Not much action on NZD/USD – the pair spent the whole day trading sideways, homies! The pair stayed within a tight range before it ended the day just 4 pips below its opening price at .8256. Read more…

Swiss Franc (CHF)

Look who’s starting to flex his muscles – the Swiss franc! For the second day in a row, it chalked up wins against its two major counterparts, snatching 9 pips from the dollar and 16 pips from the euro. Will it extend its gains today? Read more…

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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!