Daily Forex Fundamentals – August 21, 2012

What’s on the Economic Horizon

U.K. Public Sector Net Borrowing Figures Due Today
Canadian Wholesale Sales Figures on Tap
ECB Considering Cap on Yields

U.S. Dollar (USD)

With no hard data released yesterday, dollar pairs were pretty much unchanged yesterday. USD/CHF and EUR/USD closed near their opening prices, while the comdolls edged just slightly higher. Will we see more action in today’s matchups? Read more…

Euro (EUR)

The euro just can’t catch a break, can it? Even though the markets were unusually inactive, the euro still couldn’t muster the strength to end the day in the green. It slipped 12 pips against the dollar while retreating 19 pips against the yen. Bummer, dude! Read more…

British Pound (GBP)

Sellers were in control of GBP/USD for most of the day, but before the New York session came to a close, buyers were able to stage a rally that took the pair back to its opening price. When all was said and done, Cable closed 5 pips higher at 1.5610. Read more…

Japanese Yen (JPY)

Just like the rest of the market, yen crosses pretty much stayed in range as there was no real hard-hitting news to hit the airwaves. EUR/JPY finished 19 pips lower at 98.05 while GBP/JPY closed at 124.74, also 19 pips below its opening price. Read more…

Canadian Dollar (CAD)

Like a sneaky little thief, the Loonie snatched a few pips away from the Greenback to start the week. With the newswires silent in Canada and the U.S., USD/CAD quietly dipped 9 pips to end the day at .9884. Read more…

Australian Dollar (AUD)

Quiet day of trading for the Aussie, as it was stuck in consolidation mode. AUD/USD traded within a range of just over 50 pips and eventually closed at 1.0452, up 30 pips from its opening price. Read more…

New Zealand Dollar (NZD)

Like its fellow comdolls, the Kiwi took advantage of yesterday’s quiet markets and went ninja on the Greenback, pushing NZD/USD up 20 pips to .8091. Can it deliver a killer blow today? Read more…

Swiss Franc (CHF)

For the EIGHTH day in a row, USD/CHF stayed within a tight range, with yesterday’s high and low separated by less than 20 pips. 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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