Daily Forex Fundamentals – December 11, 2012

What’s on Economic Horizon
Australia’s Home Loans Drops to a 44-Month Low
U.S. Trade Balance Expected to Weaken in October

U.S. Dollar (USD)

Kablam! The Greenback wasn’t able to sustain its strength yesterday as investor expectations weighed on the dollar. EUR/USD rose by 52 pips while USD/CHF fell by 40 pips. What spooked the dollar bulls anyway? Read more…

Euro (EUR)

EUR/USD may have gapped lower over the weekend but this gap was quickly filled as the pair rallied on Monday. The pair started the week at 1.2885 then finished strong at 1.2935. Will it be able to hold on to its gains today? Read more…

British Pound (GBP)

No market data? Who cares! Despite the absence of economic reports, Cable still found a reason to rally strongly yesterday. The pair, which started out the day at 1.6047, closed the U.S. trading session 36 pips higher at 1.6070. Read more…

Japanese Yen (JPY)

The yen’s price action yesterday was as mixed as a margarita when it gained on the Greenback but lost to the euro and the pound. And to think that Japan actually printed economic data! Read more…

Canadian Dollar (CAD)

After gapping down over the weekend, USD/CAD climbed just enough to fill half of the gap before falling back to the .9870 area again. Will it close the gap completely today or will it trade much lower? Read more…

Australian Dollar (AUD)

The Aussie bulls and bears took a chill pill yesterday as AUD/USD barely moved from its open price. It tipped an intraday high of 1.0507 and dropped to as low as 1.0486, but by the end of the day the comdoll only slipped 3 pips lower than its open price. Read more…

New Zealand Dollar (NZD)

Itsy bitsy Kiwi went up the water spout… The Kiwi was able to tick slightly higher yesterday, thanks to improved risk appetite. The NZD/USD pair, which began the week at .8319, found itself sitting at .8341 by the end of Monday’s trading session. Read more…

Swiss Franc (CHF)

Just like boxing superstar Juan Manuel Marques, the Swiss franc was finally able to take its revenge on the U.S. dollar yesterday. The currency, after two straight losing days, brought its A-game yesterday and rallied 40 pips versus the U.S. dollar. USD/CHF closed the day at .9333 from .9373. 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!