Daily Forex Fundamentals – March 28, 2012

What’s on the Economic Horizon

U.K. current account data on Tap
U.S. durable goods expected to print strong numbers

U.S. Dollar (USD)

Weak economic data? No worries! The dollar shrugged off weak economic data from the U.S. yesterday as it posted gains against its major counterparts. EUR/USD slid by 38 pips to 1.3321 while USD/JPY climbed by another 35 pips to 83.16. Read more…

Euro (EUR)

It seems like euro bulls took a breather yesterday after their strong rally on Monday. EUR/JPY ended the day almost unchanged at 110.75 after opening at 110.62. Meanwhile, EUR/USD closed with a 38-pip loss at 1.3321. Read more…

British Pound (GBP)

GBP/USD’s winning days finally came to an end yesterday as it traded within a tight range between 1.5940 and 1.6000. At the end of the day, however, the pair closed the day slightly lower than its opening price. Read more…

Japanese Yen (JPY)

In its usual fashion, the yen’s price action was as mixed as the colors of M&Ms yesterday on a lack of major data from Japan. The yen lost against the dollar, franc, euro, and pound, but it gained against the comdolls. What gives? Read more…

Canadian Dollar (CAD)

Thanks to the absence of market-moving economic reports from Canada, investors didn’t go loco for the Loonie yesterday. USD/CAD traded higher to end the day 37 pips above its opening price at .9949. Read more…

Australian Dollar (AUD)

It ends at two! The Aussie failed to seal a winning streak against the Greenback yesterday when concerns about China hit the appetite for high-yielding currencies. AUD/USD ended up falling by 67 pips to its 1.0466 closing price. Read more…

New Zealand Dollar (NZD)

Due to the absence of market-moving data, NZD/USD was directionless yesterday. It simply moved within a tight 60-pip range with resistance at .8260 and support at .8200. Read more…

Swiss Franc (CHF)

The Swissy snapped its two-day winning streak yesterday as the UBS consumption indicator came in lower than the previous month’s reading. USD/CHF ended the U.S. trading session at .9049, 19 pips higher from its opening price. 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!

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