Daily Forex Fundamentals – May 4, 2012

What’s on the Economic Horizon

U.S. NFP report expected to print higher than 120,000
Canada to release its IVEY PMI report at 3:00 pm GMT
Swiss retail sales on tap

U.S. Dollar (USD)

Traders played tug-o-pips at the release of the ECB’s statement and mixed reports from the U.S., so the Greenback ended the day unchanged against most of its major counterparts. GBP/USD edged lower though, ending the day 19 pips lower at 1.6181. Read more…

Euro (EUR)

What an eventful day for the euro! With the Spanish bond auctions and the ECB rate statement going on, euro pairs were just all over the place as volatility spiked during the London session. How did those events turn out? Read more…

British Pound (GBP)

The pound bites the dust… again! For the fourth straight day, Cable ended in the red as weak U.K. data pushed the pair down 19 pips to close at 1.6181. Hmm… I’m starting to notice a pattern here! Read more…

Japanese Yen (JPY)

With Japan still on a break from markets, the yen traded in dojiville yesterday. USD/JPY closed 3 pips higher than its open price, while GBP/JPY slipped by 10 pips to 129.74. Read more…

Canadian Dollar (CAD)

Happy Pip was right! If there’s one pair that really knows how to range, it’s USD/CAD. The pair moved sideways yesterday as it found support around .9850 and resistance near the .9900 handle. Is there a catalyst that could trigger a breakout today? Read more…

Australian Dollar (AUD)

D’oh! Looks like the odds weren’t in the Aussie’s favor yesterday as AUD/USD plunged by another 71 pips to end the day at 1.0260. Okay, what happened now? Read more…

New Zealand Dollar (NZD)

Dooown she goes! The Kiwi took a long, swift dive down the charts and was one of yesterday’s weakest performers as weak labor market data dragged it down. Though the disappointing employment reports were released early in the day, NZD/USD never recovered and the pair ended up closing 108 pips lower at .7998. Read more…

Swiss Franc (CHF)

Back to snoozing on the charts! Like a sloth, the Swissy was motionless on the charts as it hardly budged against the dollar and the euro. While EUR/CHF traded 2 pips down to 1.2014, USD/CHF ended the day unchanged at .9135. Will we see more movement today? Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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