Daily Forex Fundamentals – January 11, 2013

What’s on the Economic Horizon

U.K. Manufacturing Production Figures on Tap
U.S. Trade Balance Numbers Due Today

U.S. Dollar (USD)

Finally, a breakout from consolidation! Unfortunately for the dollar bulls though, it was a bloody mess as higher-yielding currencies ruled the day. EUR/USD rose nearly 200 pips to finish at 1.3253, while AUD/USD climbed 90 pips to close at 1.0595. Read more…

Euro (EUR)

And the euro levels up! Thanks to Super Mario the euro was able to finish the day higher against most of its counterparts. EUR/USD was up more than 200 pips higher from its opening price at 1.3271. Meanwhile, EUR/JPY ended the day at 117.77 from 114.83. Read more…

British Pound (GBP)

Rejoice, Cable bulls! Thanks to the overwhelming case of risk appetite, Cable was able to skyrocket yesterday. The pair started the day 1.6034 and ended the 36 pips higher at 1.6070. Read more…

Japanese Yen (JPY)

And the sell-off continues! After days of consolidation, yen pairs finally resumed their uptrend, with several pairs hitting hundred pip gains. EUR/JPY rose an impressive 230 pips to finish at 116.87, while GBP/JPY also nearly hit the 200-pip gain mark, ending the day at 142.44. Read more…

Canadian Dollar (CAD)

The Loonie must have felt fly like a G6 on the charts in yesterday’s trading, bagging 41 pips from the dollar when it closed at .9834. ECB head honcho Draghi’s relatively more positive than expected remarks on the euro zone fueled risk appetite and allowed higher-yielders such as the comdolls to finish higher against the USD. Read more…

Australian Dollar (AUD)

Wham, bam, thank your Mr. China-man! Thanks to some positive data out of China, the Aussie staged a decent rally in yesterday’s trading sessions. AUD/USD rose 90 pips to close just a shade under the 1.0600 mark. Read more…

New Zealand Dollar (NZD)

The Kiwi received a lot of support yesterday as one of its major trading partners, China, printed a very positive trade balance. NZD/USD finished the U.S. trading session at .8446, which was 60 pips higher from its opening price. Read more…

Swiss Franc (CHF)

Now that’s how you stage a performance! With risk appetite making its way back into the foreign exchange market, the Swissy soared higher versus the safe haven Greenback. All in all, the Swissy managed to gain 115 pips over the Greenback. 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!