Daily Forex Fundamentals – February 17, 2012

What’s on the Economic Horizon

German PPI and euro zone current account to be released
U.K. retail sales expected to slide
Canadian CPI seen at 0.3%
U.S. inflation to rise?

U.S. Dollar (USD)

It looked as though the dollar was going to cruise to another big victory as it was in total control of the charts throughout the Tokyo session and most of the London session. But once the New York session got started, the dollar bears awoke from hibernation and tore the bulls apart! As a result, the dollar ended weaker against all of its major counterparts save for the yen and Kiwi. Read more…

Euro (EUR)

Now that’s what I’m talking about! On the strength of risk appetite, the euro went on a nice roll yesterday, posting huge gains versus the dollar and yen. After testing just below the 1.3000, EUR/USD managed to climb higher during the latter session and eventually closed at 1.3137. Meanwhile, EUR/JPY finished at 103.68, up 128 pips from its opening price. Read more…

British Pound (GBP)

Just when it looked like the pound was headed for more losses, risk appetite steps in and saves the day! GBP/USD jumped by more than a hundred pips from its 1.5699 open price while GBP/JPY locked in a 70-pip win when it closed at 124.73. Read more…

Japanese Yen (JPY)

Risk was ON and boy did the yen show it! It weakened against ALL of its major counterparts as traders ditched the low-yielding currency for bigger returns. EUR/JPY posted a 128-pip gain and closed at 103.68 to mark a fresh high for the month, just as USD/JPY rallied 55 pips to 78.92. Read more…

Canadian Dollar (CAD)

Just like its comdoll siblings, the Canadian dollar stumbled out of the block, but recovered in the New York session to stomp all over the Greenback. After retesting the previous week high, USD/CAD dropped all the way down to .9961, down 31 pips from its opening price. Read more…

Australian Dollar (AUD)

Finally, the Aussie puts up decent numbers! AUD/USD posted its largest gain in a week yesterday as it climbed 59 pips to close at 1.0753. Will it finally resume its long-term uptrend? Read more…

New Zealand Dollar (NZD)

And the Kiwi is back in the game! After dipping to a low of .8245, NZD/USD made a strong bounce and was able to close at .8330, just a few pips shy of its .8337 open price. Can the Kiwi finish the week strong and go for more gains? Read more…

Swiss Franc (CHF)

Way to go, Swissy! It looked as though the Greenback had the upper hand yesterday but the Swissy made a strong comeback as it pushed USD/CHF to close 44 pips down from its .9233 open price. Against the euro, on the other hand, the Swissy was forced to retreat as EUR/CHF ended 7 pips up from its 1.2064 open. 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!

  • Faith

    lol @ justin bieber and his hair

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