Daily Forex Fundamentals – May 29, 2013

What’s on the Economic Horizon

No Changes Expected From BOC Rate Decision
German Employment Figures on Tap

U.S. Dollar (USD)

Let the good times roll! The dollar put up a stellar performance on the charts as it dominated its major counterparts in yesterday’s trading. Helped by a rise in 10-year bond yields and strong economic data, the dollar took EUR/USD down 71 pips to 1.2863 and USD/JPY 121 pips higher at 102.28. Read more…

Euro (EUR)

Rough day for the euro, as it took a hit to the gut and dropped to the canvas versus the Greenback. After opening at 1.2934, EUR/USD ended trading at 1.2863, finishing the day down 71 pips. Read more…

British Pound (GBP)

No reports from the U.K. yesterday, so the pound was at the mercy of its counterparts. Dollar strength dragged Cable by 56 pips while yen weakness boosted Guppy by as much as 126 pips. Read more…

Japanese Yen (JPY)

Not this time! The yen couldn’t hold off its counterparts’ advances, as a rebound in the Nikkei pushed the safe haven currency lower. USD/JPY surged 121 pips to 102.28 while EUR/JPY climbed 84 pips higher to finish at 131.56. Read more…

Canadian Dollar (CAD)

With the dollar on a roll, the Canadian dollar simply couldn’t keep pace, as it stumbled late in the New York session. USD/CAD rose nearly 60 pips to finish the day at 1.0395 and is now trading around the key 1.0400 handle. The question is, will it hold? Read more…

Australian Dollar (AUD)

The Aussie was anchored right above the .9600 handle as it refused to budge against the Greenback. After an entire day of trading, AUD/USD finished 1 pip higher at .9633. Read more…

New Zealand Dollar (NZD)

It was a ho-hum day for the Kiwi bulls and bears as NZD/USD closed exactly at its open price. With no major data out from comdoll-related countries, can you blame Kiwi traders from taking a chill pill? Read more…

Swiss Franc (CHF)

The Swiss franc got the short end of the stick in the currency arena yesterday as risk appetite killed demand for the low-yielding currency. USD/CHF popped up by 125 pips while EUR/CHF posted a ridiculous 93-pip gain. 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!