Daily Forex Fundamentals – January 14, 2013

What’s on the Economic Horizon

Chinese inflation for December higher than expected
Fed Reserve Chairman Bernanke scheduled to speak today

U.S. Dollar (USD)

The dollar’s scorecard was as mixed as a Piña Colada last Friday. While it was able to end the day higher than the pound, yen, Aussie, and Kiwi, it gave up ground to the euro, Swiss franc, and the Loonie. So what had the dollar trading as though it were tipsy? Read more…

Euro (EUR)

The euro found itself broadly higher last Friday, thanks to the leftover bullishness from the dovish ECB interest rate decision the day before. EUR/USD finally broke out of 1.3300 and ended the day solid 53-pip gain at 1.3339. Read more…

British Pound (GBP)

Ooomph! That’s gotta hurt! The pound bulls weren’t able to hold on to their gains last Friday when reports from the U.K. badly missed expectations. Cable fell by 29 pips to 1.6121 after hitting an intraday low of 1.6089. Read more…

Japanese Yen (JPY)

And the bears just keep on coming! The yen was still unable to take a break on Friday, scoring losses against all of its major counterparts. USD/JPY hit a new 2-month high at 89.45 before finishing the day with a 101-pip gain. Meanwhile, EUR/JPY closed 210 pips higher at 118.97. Read more…

Canadian Dollar (CAD)

Consolidation was the name of the game for USD/CAD last Friday as it was unable to move convincingly in one direction. It moved sideways for almost an entire day, finding significant resistance at .9848 and strong support at .9815. Read more…

Australian Dollar (AUD)

Fall back, soldier! Fall back! The Aussie retreated from the 1.0600 handle against the dollar last Friday as China reported higher inflationary pressures. AUD/USD finished the day 59 pips lower at 1.0536. Read more…

New Zealand Dollar (NZD)

Who needs economic data when China’s reports are enough to send the Kiwi traders on a frenzy? NZD/USD dropped like a rock last Friday as it closed near its intraday low of .8364, 81 pips lower than its open price. What the heck happened? Read more…

Swiss Franc (CHF)

The franc’s price action as mixed as the colors of Happy Pip’s sneakers as it lost against the euro but gained against the Greenback. USD/CHF ended last Friday with a 15-pip loss while EUR/CHF shot up by 59 pips. 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!