Daily Forex Fundamentals – March 25, 2013

What’s on the Economic Horizon?

Positive News from Cyprus Boost the Euro
U.K. BBA Mortgage Approvals on Deck

U.S. Dollar (USD)

The financial turmoil in Cyprus might have been the focus last Friday, but that did not stop the European currencies from pummeling the safe haven Greenback to the ground. The U.S. dollar, in a surprising turn of events, lost against almost all the European currencies, including the euro, the pound, and franc. Read more…

Euro (EUR)

Talk about resilience! Despite all the hoopla surrounding the Cyprus deal, EUR/USD stayed afloat last Friday, as it managed to edge its way back up to the 1.3000 mark. What’s happening over in Cyprus now anyway? Read more…

British Pound (GBP)

The pound was higher than a kite in Friday’s trading. For the first time in a month, GBP/USD closed above 1.5200. The pair was up 67 pips by the New York session close. Swoosh! Read more…

Japanese Yen (JPY)

While other major currencies exhibited extreme highs and lows, the Japanese yen simply moved sideways last Friday. USD/JPY, for example, started the day at 1.0436 and ended the U.S. trading session barely changed at 1.0446. Read more…

Canadian Dollar (CAD)

With no hard data coming out, USD/CAD traders seemed to just doze off to finish the week. USD/CAD stuck within a range of just over 40 pips, eventually ending the day at 1.0232. Read more…

Australian Dollar (AUD)

The Australian dollar managed to emerge victorious last Friday, thanks to the positive news that came out of the euro zone. Apparently, the Cyprus government has finally approved three new measures to secure a bailout, which helped support risk appetite. AUD/USD ended the U.S. trading session at 1.0445, slightly higher than its lowest level that day at 1.0421. Read more…

New Zealand Dollar (NZD)

Whoever said the Kiwi couldn’t fly was dead wrong! Well, at least in Friday’s trading. The comdoll extended its rally above .8300, closing with a 45-pip gain at .8357. Read more…

Swiss Franc (CHF)

The Swiss franc dominated in Friday’s trading like the Terminator. Resistance around .9475 held on USD/CHF and during the London session, the pair dropped like a rock to .9400. It then closed at .9407 with the franc scoring a 63-pip gain. 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!