Daily Forex Fundamentals – February 28, 2012

What’s on the Economic Horizon

U.S. Durable Goods Orders Expected to Have Worsened in January
German Preliminary Consumer Price Index Anticipated to Go Positive
U.K. Distributive Trades Survey on Deck

U.S. Dollar (USD)

Revenge! After its poor performance late last week, the Greenback was able to retrace some of its losses and slightly rally against most major currencies yesterday. It gained 69 pips over the pound and 65 pips over the euro. Read more…

Euro (EUR)

Despite the German Parliamentary approving the Greek debt deal, the euro found itself giving back a decent chunk of its gains from last week. EUR/USD dropped 65 pips to close at 1.3397, while EUR/JPY closed at 107.93, well off its highs for the day and down 147 pips on the day. Read more…

British Pound (GBP)

Where’d all the risk-takers go? Yesterday, the pound joined its higher-yielding counterparts in sustaining losses against the Greenback. GBP/USD traded lower after opening at 1.5888, all the way down to end the day at 1.5819. Read more…

Japanese Yen (JPY)

Is the yen’s suffering finally over? After losing many consecutive days, the yen was able to show some strength in yesterday’s trading session. Thanks to a slight case of risk aversion, the yen was able to stage magnificent rallies versus other major currencies such as the dollar, the euro, and the pound. Read more…

Canadian Dollar (CAD)

Just when it seemed like the Loonie was off to set new highs, it came tumbling down late in the day. USD/CAD hit a high at 1.0050 but eventually dropped back below to finish at .9991, 4 pips below its opening price on the day. Read more…

Australian Dollar (AUD)

Despite the overall strength of the dollar and the yen yesterday, the Aussie was able to remain afloat. It closed the day at 1.0764, 10 pips higher from its opening price during the Asian session. Read more…

New Zealand Dollar (NZD)

After getting sold-off during the Tokyo and London sessions and hitting an intraday low of .8322, the Kiwi pulled off a comeback during the New York session. NZD/USD flew past resistance at .8350 and ended the day 20 pips above its opening price at .8392. Read more…

Swiss Franc (CHF)

The month of love ain’t over yet, but it seems like Cupid already walked out of the Swiss franc. The currency didn’t get any lovin’ in yesterday’s trading, scoring a 43-pip loss to the dollar and EUR/CHF ending the day two pips above its opening price at 1.2053. 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!

  • Guest

    Don’t u think that the German consumer price index could affect the market today?