Daily Forex Fundamentals – December 5, 2012

What’s on the Economic Horizon

ADP Non-farm Employment Figures on Tap Tonight
AUD GDP Figures Come In Slightly Worse Than Projected
RBNZ Rate Statement Coming Up Later

U.S. Dollar (USD)

Fiscal cliff, oh fiscal cliff, thy problems are so unchanging… With Republicans and Democrats still unable to see eye to eye, the dollar continued to stumble in yesterday’s trading. EUR/USD finished at 1.0399, up 41 pips on the day, while AUD/USD ended 55 pips higher at 1.0473. Read more…

Euro (EUR)

Euro bulls celebrated on the charts like boys getting giddy over the Victoria’s Secret fashion show. EUR/USD traded higher all throughout the day, opening at 1.3052 and finishing the day at 1.3095. Read more…

British Pound (GBP)

For the first time in more than thirty days, Cable was able to push for new highs. The pair, which began the Asian trading session below the 1.6100 handle, had flown as high as 1.6131 before closing the day at 1.6105. Read more…

Japanese Yen (JPY)

Look like the yen bears took a breather yesterday, as the yen was able to recuperate some of its recent losses against the pound and euro. GBP/JPY finished at 132.34, 51 pips below its opening price, while EUR/JPY ended 18 pips lower at 107.20. Read more…

Canadian Dollar (CAD)

Oh yeah! The Loonie finished the day in the bull’s turf against the dollar. USD/CAD closed lower at .9929 after opening at .9948. Read more…

Australian Dollar (AUD)

Everyone give a round of applause for yesterday’s big winner, the champion from Down Under, the Australian dollar! Despite the RBA hitting the markets with a rate cut, the Aussie rallied hard in yesterday’s trading action, rising a solid 55 pips to finish at 1.0473. Read more…

New Zealand Dollar (NZD)

Thanks to positive Chinese data, the RBA’s interest rate cut, and the positive overall global sentiment, NZD/USD was able to flex its muscles yesterday. The pair started the day at .8210, climbed to an intraday high of .8261, and then settled at .8241 at the end of the U.S. trading session. Read more…

Swiss Franc (CHF)

While other major currencies staged magnificent rallies versus the Greenback, the Swissy found itself just trading sideways for the entire day yesterday. USD/CHF started the Asian trading session at .9257 and moved horizontally all day, finding support at .9245 and resistance at .9295. 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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