Daily Forex Fundamentals – December 7, 2012

What’s on the Economic Horizon
Mario Draghi Speech Dragged on the Euro
Australia Prints a Steeper Trade Deficit
U.S. NFP Expected at 86K

U.S. Dollar (USD)

Now that’s how you make a comeback! The Greenback ended its losing streak against its European counterparts yesterday when EUR/USD plummeted by 115 pips while USD/CHF shot up by 68 pips. What gives? Read more…

Euro (EUR)

The euro extended its decline versus the safe haven dollar yesterday after the European Central Bank (ECB) decided to keep rates on hold and cut next year’s economic outlook. The pair, which started the day at 1.3079, dipped 115 pips and found itself sitting at 1.2964 by the end of the U.S. trading session. Read more…

British Pound (GBP)

Similar to other European currencies, the British pound suffered the wrath of the safe haven U.S. dollar yesterday. GBP/USD finished the U.S. trading session at 1.6047 after it had opened the day at 1.6098. Read more…

Japanese Yen (JPY)

The yen gained a breather against its intraweek losses yesterday when risk aversion settled in the euro region. EUR/JPY fell by 91 pips while GBP/JPY slid by 37 pips. But what about the yen’s price action against the comdolls? Read more…

Canadian Dollar (CAD)

That .9900 mark sure is stubborn! For the third time in the past two months, USD/CAD players made a run for the psychological handle but failed to breakthrough. After trading as low as .9892, USD/CAD finally settled at .9917, up 4 pips from its opening price. Read more…

Australian Dollar (AUD)

Surf’s up, dudes! The Aussie bulls caught another wave up the charts yesterday after Australia’s employment numbers beat expectations. AUD/USD rocketed above the 1.0500 area before it capped the day with an 11-pip gain. Read more…

New Zealand Dollar (NZD)

While European currencies languished under the strength of the mighty Greenback, the Kiwi actually took flight and rose versus the safe haven. NZD/USD opened the day at .8254, rose to an intraday high of .8350, and then finally settled at .8312. Read more…

Swiss Franc (CHF)

Blood, blood everywhere! The Swiss franc came out of the forex market bleeding yesterday as it was beaten badly by the safe haven U.S. dollar. USD/CHF closed yesterday at .9330, 68 pips higher from its opening price that day. 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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