Daily Forex Fundamentals – December 3, 2012

What’s on the Economic Horizon

Fiscal cliff talks continue to move the USD
Australia’s retail sales report on tap
BOJ Governor Shirakawa scheduled to speak today

U.S. Dollar (USD)

The dollar’s scorecard in yesterday’s trading was as mixed as a bag of nuts. While it managed to end the day with a win against the yen, Aussie, and Kiwi, it scored losses against its European counterparts and the Loonie. So what shook the dollar on the charts? Read more…

Euro (EUR)

And the bull party continues! Despite the ridiculously weak data from the euro zone, the euro continued to chalk up gains against its counterparts. EUR/USD ticked another 25 pips higher while EUR/JPY jumped by 57 pips. Yowza! Read more…

British Pound (GBP)

So much for ending the week with a bang! Just when GBP/USD set a new weekly high at 1.6063 and seemed poised for new highs, the pair came crashing back down to finish at 1.6025, down 15 pips from its opening price. Can the pound bulls bounce back today? Read more…

Japanese Yen (JPY)

Tsk, tsk! That ain’t the way to end the month, yen. On the last day of November, the Asian currency chalk up losses against most of its counterparts. EUR/JPY finished Friday’s trading 57 pips higher at 107.11 while USD/JPY closed 27 pips above its opening price at 82.40. Read more…

Canadian Dollar (CAD)

Just like the rest of the market, USD/CAD stayed in consolidation mode last Friday, as it didn’t make any new significant high or low. Will the ranging continue this week or is a breakout in the cards? Read more…

Australian Dollar (AUD)

The Aussie was still unable to swim out of the bear lair on Friday. AUD/USD spent most of the day’s trading chillin’ like a villain around Thursday’s lows around 1.0420 before closing the day with an 11-pip loss at 1.0423. Read more…

New Zealand Dollar (NZD)

With no data to give it any support, the Kiwi slid down the charts, making it one of the bigger losers last Friday. NZD/USD dropped 29 pips to finish the day at .8197. Will we see more weakness to start the week? Read more…

Swiss Franc (CHF)

Talk about going off early before the weekend! USD/CHF went into hibernation mode last Friday, trading within a range of just 33 pips to end the week at .9272. 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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