Daily Forex Fundamentals – December 21, 2012

What’s on the Economic Horizon
Canadian monthly GDP to show rebound?
U.S. durable goods orders data due today

U.S. Dollar (USD)

The Greenback’s performance was as mixed as a bag of nuts yesterday as it lost ground to the pound, gained against the euro and comdolls, and ended in a stalemate against the Swissy. Will it be able to find a clearer direction today? Read more…

Euro (EUR)

EUR/USD climbed to as high as 1.3296 and dipped to as low as 1.3189, but at the end of the day, the pair finished just 5 pips below its open price at 1.3241. Likewise, EUR/JPY traded above 112.00 and below 111.00, but it ended the day virtually unchanged at 111.89. Can we expect the euro to change things up today? Read more…

British Pound (GBP)

Talk about resilient! Not even worse-than-expected retail sales figures could sink the pound in yesterday, as it locked in a victory versus the dollar. GBP/USD closed at 1.6284, up 26 pips from its opening price. Read more…

Japanese Yen (JPY)

Was the yen holding its breath awaiting the end of the world? It barely moved yesterday! The Japanese currency ended the day unchanged against the Greenback, euro, Loonie, and Aussie and lost a bit of ground to the pound. Hey, that rhymes! Read more…

Canadian Dollar (CAD)

Thanks to some pretty solid retail sales figures, the Loonie dragged USD/CAD lower, narrowly avoiding a third straight loss against the Greenback. After trading as high as .9897, the pair retreated and fell to .9874, 2 pips below its open price. Read more…

Australian Dollar (AUD)

The Aussie kept going down under yesterday as AUD/USD marked its fourth consecutive day in the red. The pair opened at 1.0493 then closed at 1.0485 as risk aversion gripped the markets yesterday. Read more…

New Zealand Dollar (NZD)

Make that four in a row! Once again, the Kiwi found itself in the losers’ table, as NZD/USD fell another 26 pips to finish at .8339. Will the Kiwi bears make it a complete sweep for the week? Read more…

Swiss Franc (CHF)

With no major data on tap, USD/CHF chilled out and stuck within its average daily trading range. By the end of the day, the pair had formed a near perfect doji on the daily chart, closing at .9119. 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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