Daily Forex Fundamentals – May 16, 2013

What’s on the Economic Horizon
U.S. CPI, housing data, and initial jobless claims due
Euro zone annual CPI still at 1.2%?

U.S. Dollar (USD)

Let’s give the Greenback another round of applause! For the fifth straight day, the currency ended victorious, beating the other majors in the FX market. The U.S. dollar index managed to rally to 84.30 from its opening price at 84.07. Read more…

Euro (EUR)

I’m seeing red! Weaker than expected euro zone GDP data triggered a sharp selloff for the euro in yesterday’s trading, pushing EUR/USD below the 1.2900 major psychological support. Will the bloodbath continue today? Read more…

British Pound (GBP)

Cyclopip can learn a thing or two about resilience from the pound instead of easily giving up on his crazy diets. Yesterday, the currency was able to hold its ground against the mighty dollar. GBP/USD closed higher from 1.5209 to 1.5235 while all the other major currencies gave in to the Greenback’s strength. Read more…

Japanese Yen (JPY)

Finally, a break! The yen managed to prevent the dollar from advancing any further yesterday, forming a doji type candlestick on the daily chart. USD/JPY opened the day at 102.28 and then closed the day barely changed at 102.32. Read more…

Canadian Dollar (CAD)

The 1.0200 major psychological resistance held like a boss in yesterday’s trading, as the Loonie was able to recover some of its recent losses against the Greenback. At the end of the day, USD/CAD settled a few pips above the 1.0150 minor psychological level. Read more…

Australian Dollar (AUD)

After seven straight days of defeat, the Aussie managed to finally fight back and stay afloat versus the Greenback. AUD/USD ended the day at .9884, barely changed from its opening price at .9890. Read more…

New Zealand Dollar (NZD)

Don’t let its monicker fool you. The Kiwi sure can fly! NZD/USD finished higher in yesterday’s trading from .8196 to .8237 despite the lack of economic data from New Zealand. Read more…

Swiss Franc (CHF)

Ah ha! The Swiss franc showed the dollar who the boss was in yesterday’s trading. USD/CHF didn’t sustain its rally above .9700 yesterday and closed 20 pips lower from its opening price at .9649. 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!

  • Anshul Sgx

    USD is boosting now over EUR…good time to make profit from fx trading