Daily Forex Fundamentals – August 13, 2012

What’s on the Economic Horizon

New Zealand retail sales to rise 0.7% q/q
BOJ monetary policy meeting minutes on tap
U.S. to unload heavy reports this week

U.S. Dollar (USD)

Surprise, surprise! Guess who was at the bottom of the dog pile last Friday? That’s right, the mighty dollar! It weakened against almost all of its major counterparts. Can it stage a comeback this week? Read more…

Euro (EUR)

And the losing streak continues! With the euro zone only printing minor reports, investors had time to worry about the ECB’s capability to intervene in the markets. It dragged EUR/USD to an intraday low of 1.2241, while EUR/JPY suffered a 44-pip loss. Read more…

British Pound (GBP)

The pound was off to a weak start on Friday but it pulled up for a strong finish as it managed to end the week mostly in the green. GBP/USD closed at 1.5683 while GBP/JPY chalked up a tiny loss as it ended at 122.74. Read more…

Japanese Yen (JPY)

Between the dollar, euro, and yen, the Japanese currency was the markets’ top choice last Friday. It gained 33 pips against the Greenback while snatching 44 pips away from its European counterpart. Read more…

Canadian Dollar (CAD)

Phew, that was a close one! Though Canada’s employment data surprised to the downside, the Loonie was still able to continue its winning streak against the Greenback. USD/CAD hit an intraday high of .9971 before it settled 8 pips lower than its open price. Talk about being on a roll! Read more…

Australian Dollar (AUD)

It took a painful beating in the first half of the day, but the Aussie staged a marvelous comeback in the New York session to erase most of its losses. After trading as low as 1.0497, AUD/USD closed at 1.0575, just 4 pips below its opening price. Read more…

New Zealand Dollar (NZD)

After having its wings clipped for almost an entire week, the Kiwi managed to pull up for a quick rally on Friday. NZD/USD dipped to a low of .8083 but it jumped above its .8117 day open price and closed at .8133. Read more…

Swiss Franc (CHF)

It’s a deadlock, ladies and gents! USD/CHF managed to end right where it started on Friday as neither the bulls nor the bears wanted to give in. The pair dipped to a low of .9749 before it closed at .9768. Which way could the Swissy be headed 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!

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