Daily Forex Fundamentals – February 14, 2012

What’s on the Economic Horizon
BOJ to keep rates on hold
U.K. annual CPI to dip to 3.6%
U.S. retail sales could show rebound in spending

U.S. Dollar (USD)

The Greenback had a mixed performance yesterday as it lost ground to the comdolls but pocketed some gains against the European currencies. It moved sideways against the yen but managed to close 3 pips up from its 77.55 open price. Will the Greenback find a clearer direction today? Read more…

Euro (EUR)

Just when it seemed like the euro was going to deliver another stellar performance on the charts, it reversed its course and erased all its gains! EUR/USD began the week on a strong note as it gapped up 37 pips over the weekend and rallied to a high of 1.3285. However, it decided to make a U-turn midday and headed down the charts to close at 1.3191, 19 pips below its opening price. Read more…

British Pound (GBP)

D’oh! That was so close! Just when we thought that the pound is headed for gains against its major counterparts, GBP/USD fell back down to its 1.5570 open price, while GBP/JPY also inched lower from its 122.94 intraday high to close at 122.34. Read more…

Japanese Yen (JPY)

The Japanese yen just couldn’t seem to find a clear direction yesterday as it lost ground against the U.S. dollar and Australian dollar but ended higher against the pound and euro. USD/JPY closed 3 pips up from its 77.55 open price while EUR/JPY ended the day at 102.33. Read more…

Canadian Dollar (CAD)

Looks like yesterday was a good day to be a Loonie bull! After putting up an ugly performance on Friday, the comdoll was able to erase some of its losses during yesterday’s trading. USD/CAD fell back below parity and ended the day at .9993, down 20 pips on the day. Read more…

Australian Dollar (AUD)

Traders showed some lovin’ for the Aussie yesterday as it gapped up against the Greenback over the weekend and chalked up gains against the U.S. dollar and Japanese yen. AUD/USD closed 33 pips above the 1.0700 handle while AUD/JPY landed 26 pips above the 83.00 mark. Read more…

New Zealand Dollar (NZD)

When risk appetite is in place, you can bet your neighbor’s cat that the comdolls are seeing some action! Thanks to the Greek officials approving the recent austerity plan, risk appetite crept back up in markets and boosted NZD/USD by 49 pips to .8339. Read more…

Swiss Franc (CHF)

Despite the case of risk appetite that we saw for most of the day, the franc actually showed mixed results against its major counterparts. EUR/CHF slipped by 6 pips to 1.2087, while USD/CHF rose from an intraday low of .9102 to .9163. 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!