Daily Forex Fundamentals – May 13, 2013

What’s on the Economic Horizon

U.S. Retail Sales Report on Deck
G-7 Gives BOJ Its Seal of Approval

U.S. Dollar (USD)

The Greenback showed everyone who is boss last Friday as it was able to charge significantly versus other major currencies. The U.S. dollar index, which tracks the performance of the Greenback versus a basket of currencies, made its way to 83.63 after opening the Asian session at 83.21. Read more…

Euro (EUR)

Same results, different day! Once again, the tides favored the sellers as EUR/USD continued its slide on the charts. After trading as low as 1.2935, the pair bounced back slightly, greeting the weekend at 1.2985 to seal a 47-pip loss on the day. Read more…

British Pound (GBP)

Oh, the bloodbath! The pound got heavily sold off against the U.S. dollar last Friday, as GBP/USD crashed from a high of 1.5458 to end the day at 1.5365. What the heck happened?! Read more…

Japanese Yen (JPY)

What a performance! USD/JPY finally broke through the 100.00 major psychological level last Friday, achieving its highest level since October 2008. With this new development, market participants are saying that the pair could go to 104.00 or even 105.00 in the near future. Read more…

Canadian Dollar (CAD)

And the bleeding continues! For the second day in a row, USD/CAD edged higher as traders continued to dump the Loonie in favor of the Greenback. After opening at 1.0076, the pair ended the day at 1.0113. Read more…

Australian Dollar (AUD)

The Aussie melted like butter and trickled slowly towards parity again last Friday. It marked its fifth consecutive day of defeat as it closed the day at 1.0012. Judging from how the pair has been falling, AUD/USD is showing no signs of bottoming yet. Read more…

New Zealand Dollar (NZD)

The Kiwi got its wings clipped last Friday, as NZD/USD tumbled from the .8400 area to a low of .8256 before recovering slightly and closing at .8303. Will the Kiwi continue to drop this week? Read more…

Swiss Franc (CHF)

Somebody just got burned! The Swiss franc lost ground against both the U.S. dollar and the euro last Friday as USD/CHF jumped from the .9500 area to a high of .9628 while EUR/CHF rallied from its 1.2376 open price to close at 1.2435. What’s in store for the franc today? Read more…

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!