Daily Forex Fundamentals – February 21, 2012

What’s on the Economic Horizon
Swiss trade surplus expected to narrow in Jan
ECOFIN meetings set to start today
Canadian retail sales down by 0.2% in Dec?

U.S. Dollar (USD)

Since U.S. traders were off celebrating Presidents’ Day, there was no one to save the Greenback from getting clobbered yesterday. Higher-yielding currencies slowly edged upwards as risk appetite improved in the markets. EUR/USD closed 39 pips up from its 1.3198 open price while USD/CHF dipped below the .9100 handle. Read more…

Euro (EUR)

Risk appetite had traders chompin’ on pips yesterday as a broad-based risk rally drove the euro up the charts. You could practically hear them say “Nom nom nom!” as EUR/USD finished at 1.3237, up 81 pips from last Friday’s close! Read more…

British Pound (GBP)

With no data lined up and U.S. traders still off on holidays, we didn’t see squat happen on the pound pairs yesterday. GBP/USD stuck within range and closed at 1.5848, down just 12 pips from its opening price. Meanwhile, GBP/JPY formed a nice doji on its daily chart, as it finished at 126.18, just 8 pips lower on the day. Read more…

Japanese Yen (JPY)

The Japanese yen’s performance was as mixed as a bag of nuts yesterday as the currency lost ground against the euro, consolidated against the U.S. dollar, and pocketed a few gains against the Aussie and pound. EUR/JPY closed 39 pips up from the 105.00 handle while USD/JPY landed back at its 79.61 open price. Will the yen find a clearer direction today? Read more…

Canadian Dollar (CAD)

The Loonie wasn’t able to make much progress after gapping up against the Greenback over the weekend. USD/CAD closed at .9937, 4 pips above the week’s opening price and 20 pips below last Friday’s close. Read more…

Australian Dollar (AUD)

The Aussie gapped up against the Greenback over the weekend but this void was quickly filled as AUD/USD traded down for the rest of the day. The pair opened at 1.0787, dipped to a low of 1.0740, before closing at 1.0751. AUD/JPY also had its share of losses as it closed 14 pips down from its 85.73 open price. Read more…

New Zealand Dollar (NZD)

It looks like that .8400 handle is just too tough to handle for the Kiwi bulls! Once again, NZD/USD struggled to trade above the .8400 handle, as we saw consolidation take over the markets. With U.S. traders making their way back from the long week, is a breakout in the cards? Read more…

Swiss Franc (CHF)

No stoppin’ the franc from strutting its swag, playa! Once again, the franc ruled the charts, posting decent gains versus the dollar. USD/CHF retested the .9100 handle and eventually closed at .9123, 40-pips below its opening price on the day. 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!

1 comment

  1. Forex

    In this article I testament plow making money online, Forex trading, and
    software consanguine to Forex trading. Both echt and bad. As source as
    garment whatever new things.

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>