Daily Forex Fundamentals – February 22, 2012

What’s on the Economic Horizon

French, German Manufacturing and Services PMIs on Tap
U.S. Existing Home Sales Expected To Increase Pace
BOE Meeting Minutes On The Clock

U.S. Dollar (USD)

Even with the Greek debt deal getting passed, traders weren’t quite in a rush to celebrate. Most pairs remained unchanged, as did the dollar. The dollar index closed at 79.528, just a few pips ticks above its opening price at 79.473. What could be in store for us today? Read more…

Euro (EUR)

A Greek debt deal has finally been announced! But unlike Katy Perry, the news failed to launch fireworks for the euro and make it own the charts like the 4th of July. EUR/USD dropped from its intraday high of 1.3294 and closed the day only 4 pips above its opening price at 1.3241. Read more…

British Pound (GBP)

Tough luck, pounds bulls! Though yesterday’s public sector net borrowing report was supportive of a pound rally, the currency just couldn’t get off the ground. It ended weaker against both the dollar and the euro as GBP/USD slid 66 pips while EUR/GBP rose 38 pips on the day. Read more…

Japanese Yen (JPY)

Not much movement on yen pairs yesterday, as many pairs remained within their average daily ranges. USD/JPY traded within a tight band of just 31 pips and closed at 79.72, up just 10 pips from its opening price. Meanwhile, EUR/JPY tested the 106.00 handle early, but gave up its gains to close at 105.56, just 27 pips higher on the day. Read more…

Canadian Dollar (CAD)

Uh-oh! It looks like USD/CAD is heading back up to parity. Opening at .9937, the pair was on an uptrend yesterday, closing at .9967 after tapping an intraday high of .9977. Read more…

Australian Dollar (AUD)

Aussie going down under! The Australian dollar was one of the biggest losers yesterday, as it stumbled down the charts throughout the day. AUD/USD closed 83 pips lower on the day to finish at 1.0667. Will the bears send the pair below last week’s lows? Read more…

New Zealand Dollar (NZD)

Once again, we were reminded as to why the New Zealand dollar was nicknamed after a flightless bird! After peaking above .8400 on Monday, NZD/USD flopped to the ground and recorded a 50-pip slide as the pair ended at .8342 yesterday. Read more…

Swiss Franc (CHF)

While most currencies were going cray-cray on the charts yesterday, the Swissy was on the sidelines chillin’ like a villain! It hardly budged against its two major counterparts as USD/CHF slid 2 pips lower to .9120 and EUR/CHF climbed just 1 pip to 1.2076. 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!

  • Jj_likes_4ndz

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