Daily Forex Fundamentals – May 6, 2013

What’s on the Economic Horizon

NFP Figures Surprise to Upside
RBA Rate Statement Scheduled for Tomorrow
Ivey PMI Seen Lower This Month

U.S. Dollar (USD)

With risk appetite on a roll, the dollar found itself on the short end of the trading stick last Friday, as higher yielding currencies edged higher. EUR/USD finished 51 pips higher at 1.3117, while GBP/USD closed at 1.5566, 24 pips above its opening price. Read more…

Euro (EUR)

“I get knocked down, but I get up again. You’re never gonna keep me down,” sang EUR/USD on Friday when the pair dipped to a low of 1.3034 then rallied back up to a high of 1.3159. Will it be able to stay above the 1.3100 mark for today? Read more…

British Pound (GBP)

Up it goes again! Cable resumed its rally after taking a short break on Thursday. The pair traded as low as 1.5481 before the market reversed and climbed to 1.5567, where it locked in a 29-pip gain on the day. Read more…

Japanese Yen (JPY)

What a terrible day to be a yen bull! The Aussie, euro, pound, and dollar all rocked the yen last Friday, as the cross pairs all sky-rocketed up the charts. Will we see more of the same to start the week? Read more…

Canadian Dollar (CAD)

What a rally by the Loonie! USD/CAD slid lower on Friday as risk appetite from the strong U.S. NFP figures boosted the higher-yielding Canadian dollar. The pair broke below the 1.0100 handle and consolidated around the 1.0075 area towards the end of the New York session. Read more…

Australian Dollar (AUD)

Riding a strong wave of risk appetite, the Australian dollar bounced off recent lows and soared higher, as AUD/USD climbed 69 pips to finish at 1.0320. Will we see more of the same this week? Read more…

New Zealand Dollar (NZD)

Better late than never! The Kiwi made a last ditch effort to rise up the charts last Friday. With help from a strong bout of risk taking, NZD/USD finished 52 pips higher at .8545. Read more…

Swiss Franc (CHF)

The Swissy was one of the few currencies that was unable to join the festivities of last Friday’s rally. Unlike most of its counterparts, it ended the day lower against the Greenback, as USD/CHF rose 9 pips to .9358. Read more…

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

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!