Daily Forex Fundamentals – February 13, 2012

What’s on the Economic Horizon

Uncertainty Strikes the Market, Greenback Rallies
U.K.’s Inflation Rate expected to Taper Down Once Again
BOJ Expected to Keep Rates Unchanged Below 0.10%

U.S. Dollar (USD)

The market’s doubt about Greece regarding the implementation of all the agreed austerity measures spurred a bout of risk aversion and a wide-reaching case of U.S. dollar strength last Friday. EUR/USD, for instance, ended the day at 1.3173, more than 100 pips lower from its opening price during the Asian session. Read more…

Euro (EUR)

We have always believed that news about Greece would set the tone for the euro’s intraweek price action, and last Friday is proof of it. The euro fell against its major counterparts, with EUR/USD plunging by 112 pips while EUR/JPY also slipped back by 95 pips to 102.26. Read more…

British Pound (GBP)

The pound took nasty tumble last Friday as risk aversion crept back in the markets. GBP/USD slipped to a low of 1.5730 and closed at 1.5736 while GBP/JPY ended the day 16 pips up from the 122.00 handle. Read more…

Japanese Yen (JPY)

Yamete! For the first time in four days, the yen was able to stop the Greenback’s rally last Friday, thanks to the market’s overall aversion to risk. USD/JPY ended the day at 77.63, 6 pips lower from its opening price during the Asian trading session. Read more…

Canadian Dollar (CAD)

Looks like the tight consolidation on USD/CAD’s daily chart finally broke! Unfortunately for the Loonie, it broke upwards. The pair rose by 73 pips last Friday on a broad-based risk aversion that settled in markets amid concerns about Greece. The pair reached an intraday high of 1.0040 before settling in at 1.0028. Read more…

Australian Dollar (AUD)

It was a bloody, bloody day for the Aussie last Friday. Due to the doubt of the market regarding Greece’s ability to implement its austerity measures, risk aversion was at very high levels. This resulted in a huge 127-pip loss for the Aussie against the safe haven Greenback. Read more…

New Zealand Dollar (NZD)

NZD/USD let go of the .8300 handle last Friday as it slipped to a low of .8250 before closing at .8266. Will the Kiwi have a chance to bounce back this week? Read more…

Swiss Franc (CHF)

After spending an entire week moving sideways, USD/CHF finally broke out of consolidation and reached a high of .9201 last Friday. The pair gapped lower over the weekend, but will USD/CHF fill the gap and continue to climb this week? 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!

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