Daily Forex Fundamentals – February 15, 2012

What’s on the Economic Horizon

Euro zone GDP to show economic contraction?
U.K. claimant count expected to increase by 3,200
Swiss ZEW economic expectations on tap
U.S. to unload TIC long-term purchases and FOMC meeting minutes

U.S. Dollar (USD)

There was nothing mixed about the dollar’s performance yesterday! It ruled the charts just like how my girl Adele ruled the Grammys yo! It snatched 71 pips away from the euro, took 86 pips away from the Japanese yen, and gained 85 pips against the British pound! Talk about a sweep! Read more…

Euro (EUR)

Whoever warned about not counting chickens before they hatched sure didn’t warn the euro bulls! Thanks to weak economic data and renewed concerns over a possible Greek default, the common currency dropped back down against its counterparts. Read more…

British Pound (GBP)

The pound got its heart broken by the Greenback yesterday as GBP/USD started the day at 1.5770 then ended up at 1.5685. Against the yen, on the other hand, the pound was able to score a win as it landed 3 pips above the 123.00 handle. Read more…

Japanese Yen (JPY)

Looks like Cupid missed his mark on the Japanese yen yesterday because it found no love in the markets! It was one of the weakest performing currencies yesterday, as USD/JPY rose 86 pips to 78.44 and EUR/JPY rallied 59 pips to 102.92. Read more…

Canadian Dollar (CAD)

Looks like the Loonie bears jumped on the risk aversion bandwagon yesterday! Poor economic data from Canada and a turn in risk sentiment weighed on the comdoll yesterday, boosting USD/CAD to an intraday high of 1.0028 before it closed at .9995. Read more…

Australian Dollar (AUD)

Another one bites the dust! The Aussie couldn’t escape the overall bearish sentiment yesterday despite printing positive confidence reports. When all was said and done, AUD/USD finished the day 46 pips lower at 1.0687. Read more…

New Zealand Dollar (NZD)

It was a topsy-turvy day for the Kiwi as NZD/USD slipped from its day open price of .8339 then found support around the week open price of .8285. These levels held as support and resistance the entire day, but will the Kiwi break out of this range today? Read more…

Swiss Franc (CHF)

You can’t win ’em all, can you? While the Swissy was able to rack up some gains against the euro, it slipped against the U.S. dollar as USD/CHF reached a high of .9230 yesterday. EUR/CHF was able to close 11 pips down from its 1.2087 open price. 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!