Daily Forex Fundamentals – February 10, 2012

What’s on the Economic Horizon

Swiss CPI on tap
U.K. PPI input to show 0.4% rise?
Canadian trade surplus expected to narrow
U.S. trade deficit slated to widen

U.S. Dollar (USD)

The dollar received mixed reviews against its major counterparts yesterday. It rallied against the yen, weakened against the euro, and ended virtually unchanged against almost everything else! Let’s see if it can score a unanimous decision before the weekend! Read more…

Euro (EUR)

For the second straight day, EUR/USD was unable to pick a direction. In fact, it was so directionless that it practically didn’t move all day! It simple traded within a tight range and bounced between resistance at 1.3320 and support at 1.3215. Read more…

British Pound (GBP)

What’s that? More economic stimulus for the U.K.? Tough luck! Except against the yen, the pound weakened against all of its major counterparts yesterday when the MPC voted to boost its government bond purchases by 50 billion GBP. Cable fell from its intraday high of 1.5886 and closed at 1.5817. Read more…

Japanese Yen (JPY)

To the delight of the BOJ, the yen’s slide continued yesterday as risk appetite carried yen pairs higher. While USD/JPY rallied 68 pips to 77.69, EUR/JPY surged 110 pips before it stopped at 103.21. Let’s see if yen bears will end the week with a bang! Read more…

Canadian Dollar (CAD)

When the Loonie going to make its move? Another day has gone by and the Loonie continues to move sideways. USD/CAD, for instance, barely moved and closed the U.S. trading session at .9955, a mere 6 pips lower from its opening price. Read more…

Australian Dollar (AUD)

More sideways trading for the Aussie! It just couldn’t get its groove on yesterday as AUD/USD ended the day almost unchanged. After swinging down in the Tokyo session, the pair popped up and rallied in the London and New York sessions. Eventually, it settled at 1.0785, down 7 pips on the day. Read more…

New Zealand Dollar (NZD)

Oomph! The Kiwi received a blow against the Greenback yesterday when risk aversion controlled the currencies’ price action. NZD/USD ended up closing with a 13-pip loss after reaching an intraday high of .8382. Read more…

Swiss Franc (CHF)

With Switzerland’s economic release barely making an impact on the franc pairs and risk aversion kickin’ in yesterday, the franc traded with mixed results against its counterparts. USD/CHF fell by another 9 pips and closed at .9117, while EUR/CHF capped the day with a 10-pip gain at 1.2112. Read more…

Batman and Robin, 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!

  • ascms

    Why do you use GMT time when even the babypips calender uses military time.  Why can’t all of you use military time like the calender?

  • Jj_likes_4ndz

    Because he writes for international people.You can change your time zone in the settings after signing in.