Daily Forex Fundamentals – December 16, 2011

What’s on the Economic Horizon

U.S. Inflation Rate Eyed at 0.1%
Canadian Foreign Securities Purchases Expected to Rise to 8.23 Billion CAD

U.S. Dollar (USD)

After three days of winning across the board, the dollar finally gave up some of its gains yesterday. The U.S. dollar index fell 77.90 by the end of the U.S. trading session, 14 percentage points from its opening level that day. Read more…

Euro (EUR)

Easy there, brothas. After falling sharply for days in a row, the euro steadied against most of its major counterparts. EUR/USD ended up gaining by 32 pips, while EUR/JPY also edged 6 pips higher than its open price. What happened? Did Chuck Norris decide to buy the euro or something? Here are the details. Read more…

British Pound (GBP)

Whew, what a relief! The pound was able to take a break from its slide against its major counterparts as it ended higher against the Greenback and Japanese yen yesterday. GBP/USD closed 47 pips up from its 1.5461 open price while GBP/JPY ended 20 pips shy of the 121.00 handle. Read more…

Japanese Yen (JPY)

It was a confusing trading day for the yen yesterday as it traded mixed against major currencies. While it was able to steal some pips from the dollar, it failed to rally against both the euro and the pound. Read more…

Canadian Dollar (CAD)

Finally! A win for the Loonie! Thanks to a rise in risk appetite yesterday, USD/CAD broke its winning streak and fell by 39 pips to 1.0357 after falling to an intraday low of 1.0320. Boo yeah! Read more…

Australian Dollar (AUD)

It appears that the the Aussie bears have finally run out of fuel as they were unable to take AUD/USD lower for another day yesterday. The daily chart shows a nice little doji, indicating that neither the bulls nor the bears were in control. With the Aussie below parity, will we see the bargain hunters start buying the pair again? Read more…

New Zealand Dollar (NZD)

Hooray for the Kiwi! The comdoll was able to end its losing streak against the Greenback as enjoyed a relief rally yesterday. NZD/USD opened at .7504, reached a high of .7556, then closed at .7525. Can it hold on to its recent gains and make some more? Read more…

Swiss Franc (CHF)

Let’s go, Swissy, let’s go! The Swiss franc was able to end the day higher than the euro and U.S. dollar as the SNB refrained from intervening in the currency market. USD/CHF opened at .9531 then closed at .9404 while EUR/CHF ended 136 pips down from its 1.2374 open price. 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!