Daily Forex Fundamentals – December 12, 2012

What’s on the Economic Horizon
FOMC to extend Operation Twist?
U.K. claimant count change report due today
Swiss ZEW economic expectations to improve?

U.S. Dollar (USD)

Who let the dollar bears out? The Greenback had a losing day against most of its major counterparts, except for the Japanese yen, as higher-yielding currencies racked in plenty of gains yesterday. EUR/USD landed back above the 1.3000 handle as it closed at 1.3004 while GBP/USD closed above the 1.6100 mark. Read more…

Euro (EUR)

The bulls brought their A-game once again yesterday as they managed to extend EUR/USD’s rally for the second straight day. EUR/USD, which began the Asian trading session at 1.2938, closed the day significantly higher at 1.3004. Read more…

British Pound (GBP)

The party ain’t over, boys! Despite the lack of data from the U.K., the pound continued to outperform the dollar and the yen yesterday. GBP/USD 58 pips while GBP/JPY jumped by 62 pips. What the heck motivated the pound traders anyway? Read more…

Japanese Yen (JPY)

The Japanese yen got knocked out in yesterday’s trading as USD/JPY closed 17 pips up from its 82.33 open price while EUR/JPY landed back above 107.00 and closed at 107.28. Will the yen be able to recover today? Read more…

Canadian Dollar (CAD)

It was a very slow day for the Loonie yesterday as only Canada’s trade balance was released. USD/CAD opened the day at .9872 and moved within a very tight 24 tight horizontal channel the entire day. It found resistance at .9881 and support at .9857. Read more…

Australian Dollar (AUD)

Way to go, little guy! The Aussie took advantage of dollar weakness yesterday as AUD/USD rallied above the 1.0500 handle and closed at 1.0521. AUD/JPY had its share of gains as it closed 46 pips up from its 83.33 open price. Read more…

New Zealand Dollar (NZD)

Who’s up for the sixth day in a row? NZD/USD is! The Kiwi bulls charged higher again yesterday thanks to demand for the high-yielding currencies. The pair tipped an intraday high at .8393 before it closed 48 pips higher than its open price. Read more…

Swiss Franc (CHF)

The franc stepped into Loserville yesterday as it lost against its counterparts save for the Greenback. USD/CHF might have slipped by 6 pips, but EUR/CHF had also shot up by 48 pips while GBP/CHF also rose by 29 pips. What gives? 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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