Daily Forex Fundamentals – May 9, 2013

What’s on the Economic Horizon

Australian Jobs Report Tops Expectations!
Chinese Trade Balance Boosts Risk Appetite
BOE Rate Statement On Tap

U.S. Dollar (USD)

Where to, Mr. Greenback? Without any economic reports on tap, the dollar was as lost as Robopip when he first landed on planet Earth. It gave up ground to the yen, euro, and pound, but finished higher against the Kiwi and the Aussie. Read more…

Euro (EUR)

We got another strong performance from the euro, as the shared currency pummeled its safe haven counterparts. With help from strong German data, it was able to take EUR/USD 78 pips higher to 1.3156 while lifting EUR/JPY 49 pips higher to 130.17. Read more…

British Pound (GBP)

That’s how you stage a comeback! The pound bulls silenced their critics yesterday, as they pushed Cable up the charts. After nearly retesting the 1.5600 handle, GBP/USD eventually settled at 1.5536, up a solid 56 pips form its opening price. Read more…

Japanese Yen (JPY)

The yen’s scorecard was as messy as a sloppy Joe in yesterday’s trading. While it managed to finish the day with a 5-pip win against the dollar, it gave up 71 pips to the euro and 46 pips to the pound. What gives?? Read more…

Canadian Dollar (CAD)

I hope y’all have been keeping count because that’s FOUR wins in a row now for the Loonie! It extended its lead against the Greenback by another 11 pips as USD/CAD slid to 1.0033. What spurred the rally this time? Read more…

Australian Dollar (AUD)

The Aussie just couldn’t catch a break! AUD/USD tested the major 1.0200 handle in yesterday’s trading but failed to close above it. By the end of the New York session, the pair was down 16 pips from its opening price at 1.0167. Read more…

New Zealand Dollar (NZD)

Rough day for the Kiwi, as it stumbled down the charts during yesterday’s trading matches. NZD/USD dropped 70 pips from its opening price to finish at .8386. Will we see more Kiwi weakness today? Read more…

Swiss Franc (CHF)

Just like its European counterparts, the Swiss franc edged higher versus the dollar in yesterday’s trading. After opening at .9402, USD/CHF eventually ended trading at .9354, marking a near 50-pip drop. Will we see more Swissy strength today? 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!