Daily Forex Fundamentals – February 11, 2013

What’s on the Economic Horizon
Australian home loans post 1.5% decline
Japanese Finance Minister surprised by sharp yen selloff
Eurogroup meetings ongoing

U.S. Dollar (USD)

When the chips are down, count on the U.S. dollar to swoop in! The Greenback recovered most of its recent losses against its rivals as higher-yielding currencies sold off. However, the U.S. dollar lost ground to the yen as USD/JPY fell back to the 92.00 area. Read more…

Euro (EUR)

Talk about a slow day! After EUR/USD’s major moves following the ECB rate decision, the pair found itself simply chillin’ like a villain’ last Friday. The pair didn’t exhibit much movement as it traded in a relatively tight 77-pip range. It closed the day at 1.3363, just 41 pips lower from its opening price. Read more…

British Pound (GBP)

The pound finished the week on a strong note last Friday as traders cashed in on their long euro positions and focused on signs of optimism for the U.K. Cable ticked 85 pips higher while EUR/GBP registered a 70-pip drop. Read more…

Japanese Yen (JPY)

Who y’all callin’ a loser? After suffering a massive selloff for days on end, the Japanese yen got back on its feet last Friday as USD/JPY sank back to the 92.00 area. Word through the forex grapevine is that remarks from Japan’s Finance Minister sparked the yen rebound. What did he say? Read more…

Canadian Dollar (CAD)

“Mayday, mayday, I’ve been hit!” The Loonie found itself moving lower last Friday as Canada’s labor and housing data failed to impress. USD/CAD began the day at .9981 but found itself above parity at 1.0028 by the end of the U.S. trading session. Read more…

Australian Dollar (AUD)

After getting wiped out on Thursday, the Australian dollar got back on its feet last Friday as AUD/USD cruised back above the 1.0300 area. Was this the start of a rebound or merely a retracement? Read more…

New Zealand Dollar (NZD)

Wham, bam, thank you Chinese data! Okay that doesn’t rhyme, but hey, whatever works for the Kiwi, right? Thanks to a positive Chinese data and lack of disappointing report from New Zealand, NZD/USD was able to climb to an intraday high of .8390 before ending the day 30 pips higher than its open price. Read more…

Swiss Franc (CHF)

What economic data? The franc showed mixed price action against its counterparts last Friday even when Switzerland printed some promising reports. USD/CHF ended the day only 7 pips below its open price, EUR/CHF slipped by 46 pips, and GBP/CHF climbed 66 pips. What’s up with that? 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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