Daily Forex Fundamentals – May 15, 2013

What’s on the Economic Horizon

U.S. Producer Price Index on Deck
Euro zone GDP Expected to Print Another Contraction
Unemployment in the U.K. to Have Remained at 7.9%

U.S. Dollar (USD)

Boom, baby! The dollar powered through the charts and crushed most of its major counterparts in yesterday’s trading. USD/JPY closed above 102.00 and tapped its highest level in more than 4 years while EUR/USD closed below 1.2950. Read more…

Euro (EUR)

When will the pain ever end? EUR/USD once again found itself holding on to the short end of the stick yesterday, falling significantly below the 1.3000 major psychological handle. By the end of the U.S. trading session, the pair was 1.2936, down from where it had opened at 1.2969. Read more…

British Pound (GBP)

Make that four! The pound bears extended their party yesterday as they dragged GBP/USD a couple more pips lower than its open price. Not only that, but the pound also lost against the euro and the yen! Read more…

Japanese Yen (JPY)

Yo, yen! Where did your swag go?? The currency chocked up losses against its major counterparts yesterday. USD/JPY flew past the 102.00 major psychological handle and closed at 102.28 while EUR/JPY finished the day with an 18-pip gain. Read more…

Canadian Dollar (CAD)

The Loonie was subjected to a lot of selling yesterday, giving up 61 pips to the safe haven Greenback. USD/CAD began the day at 1.0110 and closed the U.S. trading session 1.0171. Crude oil, which usually tracks the performance of the Loonie, fell for the third consecutive day yesterday, too. Read more…

Australian Dollar (AUD)

And the Aussie tanks for the seventh day in a row! Without any economic reports on tap from Australia and the effect of the RBA’s rate cut still lingering in the markets, AUD/USD closed with a 64-pip loss at .9891. Read more…

New Zealand Dollar (NZD)

NZD/USD was still deep in the bear lair yesterday as it clocked in its SEVENTH losing day in a row. What the heck influenced Kiwi traders to continue selling the comdoll?! Read more…

Swiss Franc (CHF)

Where did all the bulls go? Just when we thought that the franc is on its way to erase its recent losses, it fell sharply against its major counterparts. USD/CHF shot up by 77 pips while EUR/CHF also went up by 67 pips. 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!