Daily Forex Fundamentals – March 27, 2013

What’s on the Economic Horizon

Euro zone Italian Bond Auction to Dictate Today’s Price Action?
Canadian Inflation Figures on Deck

U.S. Dollar (USD)

Yesterday, the U.S. dollar replicated its performance from the day before as it traded in a mixed manner in the foreign exchange market. The Greenback managed to range versus the euro, but gained slightly against the pound and the yen. Read more…

Euro (EUR)

Phew! With no economic data out from the euro region yesterday, the euro bears took the chance to catch a breather. EUR/USD inched by 6 pips while EUR/JPY climbed by 54 pips. Will the euro bears go back to business today? Read more…

British Pound (GBP)

Yikes! Make that two losses in a row! The pound extended its losses to the dollar yesterday no thanks to worse than expected U.K. data. By the end of the New York session, GBP/USD was down 21 pips from its opening price at 1.5160. Read more…

Japanese Yen (JPY)

The Japanese yen suffered a bitter defeat in yesterday’s trading session as it mostly lost against the other majors. USD/JPY, for instance, climbed to 94.51 after it had opened the Asian trading session at 94.13. Meanwhile, EUR/JPY rose to 121.53 from 120.99. Read more…

Canadian Dollar (CAD)

Score another one for the comdolls! For the fifth day in a row, the Loonie clobbered the Greenback like it was The Hulk. USD/CAD fell by 64 pips this time as it closed at the 1.0165 area. What the heck boosted the Loonie anyway? Read more…

Australian Dollar (AUD)

The Australian dollar managed to clock in another victorious session yesterday. It gained for the fifth consecutive day versus the safe haven U.S. dollar, rising to 1.0486 from 1.0464. Read more…

New Zealand Dollar (NZD)

The Kiwi still looked so darn fine to the bulls in yesterday’s trading. NZD/USD tapped its one-month high at .8394 following New Zealand’s better-than-expected trade numbers. The pair then finished the day at .8387, 31 pips above its opening price. Read more…

Swiss Franc (CHF)

What a snoozer! Without any economic data on tap from Switzerland and major updates from the euro zone, the Swiss franc traded within a pretty tight range of just over 30 pips against the dollar. USD/CHF spent most of the day hovering below .9500 before closing the day at .9484. 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!