Daily Forex Fundamentals – May 21, 2013

What’s on the Economic Horizon

RBA Meeting Minutes on Tap
U.K. Inflation Figures Due Today

U.S. Dollar (USD)

Is the party over for the dollar bulls? The Greenback failed to extend its rally yesterday after a comment from a Fed official inspired profit-taking. EUR/USD jumped by 56 pips while USD/JPY closed 80 pips lower than its open price. Read more…

Euro (EUR)

After taking a beating last week, the euro got off to a nice yesterday, as it was able to recover and push ahead. After testing 1.2800 late last week, EUR/USD finished yesterday at 1.2889, up a decent 56 pips on the day. Read more…

British Pound (GBP)

It seems like pound bulls got a lot of R&R over the weekend! They certainly looked energetic in yesterday’s trading as they managed to take GBP/USD 84 pips up to 1.5259. Do they have enough stamina to keep the rally going? Read more…

Japanese Yen (JPY)

Akira Amari saves the day! Thanks to a speech by Japan’s Economy Minister, the yen was able to put a stopper on its losses. USD/JPY dropped by 80 pips while EUR/JPY finished the day well below its intraday highs. Read more…

Canadian Dollar (CAD)

Just like its comdoll siblings, the Canadian dollar posted some decent gains versus the dollar to start the week. USD/CAD dropped 50 pips to finish at 1.0238, marking the first time in 5 days that the pair finished lower. Read more…

Australian Dollar (AUD)

Finally, a breather! After TEN consecutive days of losses, AUD/USD was able to finish a day in the green. The pair reached an intraday high of .9828 before closing 78 pips higher than its open price. What brought the Aussie selloff to a halt? Read more…

New Zealand Dollar (NZD)

Did someone just hit “CTRL+Z” on NZD/USD? Because the pair just undid all of its losses from last Friday! With a strong start to the week, the Kiwi was able to post a 90-pip gain on the day to take NZD/USD back up to .8171. Read more…

Swiss Franc (CHF)

Finally, some decent gains for the Swissy! After getting bullied by the dollar for the past week, the Swissy managed to do some damage of its own. It started the week with a 61-pip gain as USD/CHF fell to .9666. 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!