Daily Forex Fundamentals – January 10, 2013

What’s on the Economic Horizon

Weekly Unemployment Claims to Fall to 361k?
ECB Expected to Keep Rates Unchanged at 0.75%
BOE Interest Rate Decision on Deck

U.S. Dollar (USD)

For the second straight day, the Greenback was able to show how tough it is by emerging as one of the strongest currencies in the forex market yesterday. The U.S. dollar index, which tracks the relative performance of the Greenback versus other major currencies, rose to 81.03 from 80.81. Read more…

Euro (EUR)

With no major data on the docket, the euro’s price action was as mixed as a bag of jellybeans. The common currency dropped for a second day in a row against the Greenback, while it gained on the yen and steadied against the pound. Read more…

British Pound (GBP)

With disappointing data from the U.K., it wasn’t much of a surprise to see the pound finish the day in the bear lair. GBP/USD closed Wednesday’s trading lower at 1.6022 after starting the day at 1.6053. Read more…

Japanese Yen (JPY)

The yen experienced a lot of pain in yesterday’s trading session as it lost against most major currencies. The currency gave up 56 pips to the dollar, 42 pips to the euro, and 53 pips to the pound. Read more…

Canadian Dollar (CAD)

Down for another day! Thanks to weak Canadian data and overall comdoll weakness, the Loonie had failed to pare its intraweek losses yesterday. USD/CAD had touched an intraday low at .9854 before it capped the day 5 pips higher than its open price. Read more…

Australian Dollar (AUD)

Unlike the European currencies, the Australian dollar managed to hold its ground versus the safe haven U.S. dollar yesterday. After opening the Asian trading session at 1.0495, AUD/USD convincingly broke through the 1.0500 major psychological handle to close the day at 1.0509. Read more…

New Zealand Dollar (NZD)

The New Zealand dollar’s monicker didn’t do its performance in yesterday’s trading any justice. Named after a flightless bird, the Kiwi finished the day 30 pips above its opening price at .8396. Read more…

Swiss Franc (CHF)

Still no lovin’ for the franc! Just like the rest of the major currencies, the Swiss franc was no match to the dollar in yesterday’s trading. USD/CHF finished higher for a second day higher at .9252 after kick-starting the day at .9241. 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!