Daily Forex Fundamentals – May 27, 2013

What’s on the Economic Horizon

U.S. on Memorial Day Holiday
The U.K. on Spring Bank Holiday

U.S. Dollar (USD)

The Greenback’s performance on Friday was as mixed as a bag of nuts, as it edged lower against the euro and yen but managed to pocket some gains against the Aussie. EUR/USD struggled to stay above the 1.2900 major psychological level while USD/JPY slid to the 101.00 area. Read more…

Euro (EUR)

Saved by the German data! The euro might have ended its winning streak against its counterparts last Friday, but it had also avoided heavy losses. EUR/USD only slipped by 4 pips while EUR/JPY’s slide was contained to 95 pips. Read more…

British Pound (GBP)

Relatively quiet end to the week for the pound, as it pretty much stayed within range versus its major counterparts last Friday. GBP/USD traded as low as 1.5064 before eventually finishing at 1.5126, up 14 pips form its opening price. Meanwhile, EUR/GBP ended the day trading at .8551, 10 pips lower on the day. Read more…

Japanese Yen (JPY)

Check out the Nikkei putting the “Yeah!” in yen! Another topsy-turvy day in the Japanese equities market was enough to rock the yen last Friday, as the Japanese currency was able to score another day in gains. USD/JPY sank below the 101.00 barrier while EUR/JPY dipped close to 130.00. Can the yen keep it up? Read more…

Canadian Dollar (CAD)

The Loonie bulls must have been listening to Nelly’s Just a Dream as they watched the comdoll print another red day against the Greenback following a strong rally last Thursday. USD/CAD ended the day with a 27-pip gain after hitting a high at 1.0357. Read more…

Australian Dollar (AUD)

After a quick retracement on Thursday, AUD/USD resumed its slide on Friday and traded below the .9700 handle once more. Will the pair go for a break of .9600 soon? Read more…

New Zealand Dollar (NZD)

With risk aversion and trade balance data crippling the currency, the Kiwi just couldn’t get to its feet last Friday. After opening at .8146, NZD/USD slipped back down to .8087, almost completely erasing the previous day’s gains. Read more…

Swiss Franc (CHF)

Boo yeah! There weren’t any economic reports released from Switzerland, but there were enough good vibes to go around and hustle the franc for a win against the dollar! USD/CHF finished Friday’s trading 71 pips below its opening price at .9611. 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!