Daily Forex Fundamentals – December 13, 2011

What’s on the Economic Horizon
Moody’s Puts the Credit Ratings Of All European Countries on Review
U.S. Retail Sales and Fed FOMC Statement Scheduled Today
U.K. CPI To Come In At 4.8%?

U.S. Dollar (USD)

The dollar channeled its inner Tim Tebow and powered through the charts in yesterday’s trading. It gained against all of its major counterparts, bagging 182 pips from the euro, 60 pips from the pound, 126 pips from the aussie, and 22 pips from the Japanese yen. Read more…

Euro (EUR)

The euro was sold-off like hotcakes yesterday, no thanks to the disappointing aftermath following the European Summit. EUR/USD dropped to end the U.S. trading session at 1.3189, its lowest level since the first week of October. Read more…

British Pound (GBP)

Look out below! No thanks to risk aversion in the markets and lack of economic data from the U.K., the pound suffered losses against its major counterparts. GBP/USD ended up closing 60 pips below its open price after dipping to an intraday low of 1.5537. Read more…

Japanese Yen (JPY)

Aaah, there’s nothing like risk aversion to get yen bulls munching on pips. The yen rallied against all of its major counterparts save for the dollar yesterday. EUR/JPY ended the day 112 pips below its opening price, while GBP/JPY closed with a 13-pip loss at 121.39. Read more…

Canadian Dollar (CAD)

The Loonie bears flexed their muscles yesterday as risk aversion popped its head again. After opening the day at 1.0198, USD/CAD found itself sitting at 1.0271 by the end of the U.S. trading session. Read more…

Australian Dollar (AUD)

No thanks to the deadly combo of bad data and risk aversion, the Aussie plunged head first into the bear lair yesterday. AUD/USD opened at 1.0202 and tumbled down the charts to close the day at 1.0076. Read more…

New Zealand Dollar (NZD)

Ooomph! Like the other high-yielding comdolls, the Kiwi tumbled sharply against the Greenback yesterday on renewed debt concerns in the euro region. NZD/USD dropped to an intraday low of .7611 before it ended the day 115 pips below its open price. Yeouch! Read more…

Swiss Franc (CHF)

When risk sentiment is in play, you know you can count on the franc to show some interesting price action! Concerns on the euro zone debt crisis took its toll on EUR/CHF as it dropped by 26 pips to 1.2359, but demand for the low-yielding dollar also boosted USD/CHF to .9371, a high not seen since March this year. 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!