Daily Forex Fundamentals

Daily Forex Fundamentals - May 10, 2013

U.S. Dollar (USD)

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It looks as though dollar bulls were just waiting for the right moment to strike! After putting up unimpressive performances for the past two days, the dollar struck its major counterparts to the ground with help from strong jobs data. USD/JPY broke above 100.00 as it finished the day 171 pips higher. Meanwhile, EUR/USD slipped 123 pips to 1.3032. Read more...

Euro (EUR)

Rough day at the office for the euro, as it sank down the charts versus the dollar yesterday. EUR/USD gave back all its gains from the day before and then some, as it finished at 1.3032, marking a 123-pip loss for the day. Read more...

British Pound (GBP)

The party continues! Currency bulls extended the pound's rally yesterday after reports from the U.K. printed to the upside. GBP/USD popped up by 171 pips and EUR/GBP slipped 29 pips. Only GBP/USD missed the pound appetite train as it fell 92 pips below its open price. Read more...

Japanese Yen (JPY)

No mixed results this time around... The markets voted unanimously against the yen, making it yesterday's weakest performer. For the first time since April 2009, USD/JPY broke above 100.00, closing 171 pips higher. Likewise, EUR/JPY forged a new high of its own as it closed 101 pips higher at 131.18. Read more...

Canadian Dollar (CAD)

And the winning streak ends! For the first time in 6 days, the Canadian dollar failed to edge higher versus the dollar, as USD/CAD finished at 1.0076, up 43 pips from its opening price. Read more...

Australian Dollar (AUD)

Just when it looked as though the Aussie was finally gearing up for a major comeback, it was crippled by a strong U.S. jobs report. AUD/USD rallied early in the day to tap a high of 1.0255, only to come crashing down and finish at 1.0080. Read more...

New Zealand Dollar (NZD)

Positive employment reports? So what? Just when we thought that NZD/USD was headed for its previous highs on the daily chart, the comdoll bears jumped in the forex arena and dragged the pair well below its highs. NZD/USD finished the day at .8377 after hitting an intraday high at .8482. Read more...

Swiss Franc (CHF)

With no data out from Switzerland yesterday, the franc danced to the tune of its counterparts' price action. USD/CHF shot up by a whopping 130 pips while EUR/CHF tipped an intraday high of 1.2409 before closing 53 pips higher than its open price. Read more...

In forex trading, you get better odds at securing pips when your fundamental analysis is complemented by technical analysis.