Daily Forex Fundamentals – March 14, 2013

What’s on the Economic Horizon
BOJ to vote on Kuroda’s nomination
SNB quarterly monetary policy assessment on tap
EU economic summit to start today
U.S. to unload PPI, unemployment claims, and current account

U.S. Dollar (USD)

Like a bawse! The dollar showed everyone who the top dog is in the forex markets as it trounced its higher-yielding counterparts. Thanks to solid retail sales figures, the dollar index rose from 83.05 to 83.38 to reach levels not seen since August 2012. Crazy! Read more…

Euro (EUR)

The euro fell deep into the bear lair yesterday after a couple of economic reports from the region spooked the currency bulls. EUR/USD fell by 76 pips while EUR/GBP and EUR/JPY also ended the day in the red. Read more…

British Pound (GBP)

Crash and burn, baby! After climbing to a high of 1.4981, GBP/USD erased all of its gains for the day and tumbled to the 1.4910 area. GBP/JPY, on the other hand, managed to stay afloat as it consolidated above 143.00. Read more…

Japanese Yen (JPY)

The yen was able to keep its losses to the dollar to a minimum as USD/JPY ended just 4 pips higher at 96.03. Against the euro, it performed much better, snatching 66 pips away from the shared currency to take EUR/JPY to 124.43. Read more…

Canadian Dollar (CAD)

The Loonie just couldn’t get any lovin’ past 1.0250! In yesterday’s trading, USD/CAD once again got rejected at the support area. At the end of the New York session, the pair settled at 1.0278 with the Loonie scoring a 22-pip loss for the day. Read more…

Australian Dollar (AUD)

Like most currencies, the Aussie felt the wrath of the Greenback after the U.S. retail sales report sent AUD/USD lower. After trading as low as 1.0282, the pair settled at 1.0309 to post a 15-pip loss on the day. Read more…

New Zealand Dollar (NZD)

My my, what a nasty tumble! NZD/USD was consolidating around the .8250 mark during yesterday’s trading when the RBNZ rate decision took place and pushed the pair to the .8180 area. What the heck happened? Read more…

Swiss Franc (CHF)

After a bit of consolidation during the Asian and London sessions, USD/CHF broke to the upside and rallied up to the .9520 area later on. EUR/CHF, on the other hand, tumbled to a low of 1.2306 before recovering to 1.2350. 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!