Daily Forex Fundamentals – March 21, 2013

What’s on the Economic Horizon

BOJ Governor Haruhiko Kuroda to deliver maiden speech
Euro Zone PMIs to show slight improvements
U.K. retail sales growth seen at 0.5%
Canadian retail sales to rebound 0.6%
U.S. expected to unload heavy reports in New York session

U.S. Dollar (USD)

Risk on, baby! With risk appetite making a comeback, the dollar found itself getting bullied by other currencies. Even with the help of the FOMC statement, it lost ground to all of its major counterparts save for the yen and Kiwi. Will it stage a comeback today? Read more…

Euro (EUR)

Looks like the euro bears took a break yesterday, as they allowed the shared currency to recover against the dollar and the yen. Still, with European leaders still scrambling to make a deal for Cyprus, how long will this sentiment last? Read more…

British Pound (GBP)

Surprise, surprise! Contrary to what many were expecting, the BOE MPC meeting minutes revealed that the central bank did not grow dovish. Of course, this sent the pound skyrocketing up like a firework on the 4th of July! Read more…

Japanese Yen (JPY)

Risk was on but the yen’s game was totally off! It didn’t put up a fight at all and ended up losing massive pippage against other currencies. USD/JPY rose 102 pips to land at 96.05 while EUR/JPY surged 181 pips to end at 124.31. Read more…

Canadian Dollar (CAD)

That’s how you stop the bleeding! The Canadian dollar bulls pulled ahead yesterday, allowing USD/CAD to fall 16 pips and finish the day at 1.0254. Read more…

Australian Dollar (AUD)

Put another shrimp on the barbie because the Aussie just posted another positive day! It wasn’t the biggest of victories, but hey, a win is a win, right? AUD/USD ended 8 pips higher at 1.0379 after trading as high as 1.0406. Read more…

New Zealand Dollar (NZD)

The Kiwi was as flightless as a penguin in yesterday’s trading. NZD/USD dropped from its opening price of .8243 to an intraday low of .8212. By the end of the New York session, the pair had settled at .8226. Read more…

Swiss Franc (CHF)

Bad data sure wasn’t enough to rain on the Swiss franc’s parade! Despite a negative ZEW Economic Expectations report, the franc still finished higher against the dollar at .9443 after opening at .9474. 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!