Daily Forex Fundamentals – February 27, 2013

What’s on the Economic Horizon?

U.K. Second GDP Estimate on Deck
No Change in Japan’s Fundamentals?

U.S. Dollar (USD)

After its spectacular performance on Monday, the safe haven Greenback surprisingly found itself relatively flat against other major currencies yesterday. The U.S. dollar index, which tracks the performance of the currency against the other majors, mainly moved within a tight horizontal range. It started the day at 82.15 and ended the day slightly higher at 82.35. Read more…

Euro (EUR)

Make that back-to-back! Once again, risk sentiment soured on the euro, as EUR/USD closed 67 pips lower at 1.3054, while EUR/JPY ended at 120.04, down 147 pips from its opening price. Read more…

British Pound (GBP)

The pound fell down the charts in a less-graceful manner than JLaw’s trip at the Oscar’s. GBP/USD finished yesterday’s trading 58 pips lower at 1.5131 while GBP/JPY was down 155 pips at 139.12. Read more…

Japanese Yen (JPY)

Well, well, well, it looks like the yen is starting to gain some bullish momentum. For the second straight day, the low-yielding yen was able to come out on top versus both the safe haven dollar and the euro yesterday. USD/JPY ended the day 66 pips lower while EUR/JPY dropped a whopping 147 pips. The yen was considered as one of the best performing currencies. Read more…

Canadian Dollar (CAD)

Is that a doji I see on the daily chart of USD/CAD? Could this be the start of a comeback for the Canadian dollar? Read more…

Australian Dollar (AUD)

For the second consecutive day, AUD/USD suffered the wrath of the bears. The pair performed poorly as it fell to 1.0234 from its opening price at 1.0284. AUD/USD mainly struggled as political uncertainty in Italy persisted. Read more…

New Zealand Dollar (NZD)

Look out below! The Kiwi crashed down the charts following disappointing figures from New Zealand and a decline in commodity prices. NZD/USD finished at .8254 after starting the day at .8368. Read more…

Swiss Franc (CHF)

Boring! The franc spent most of yesterday’s trading chillin’ like ice cream fillin’ around .9300 against the dollar. By the New York session close, USD/CHF held steady at .9321, up from its opening price at .9306. 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!