Daily Forex Fundamentals – January 18, 2013

What’s on the Economic Horizon
Chinese GDP stronger than expected
U.S. consumer sentiment to improve in Jan?
USD/JPY testing 90.00

U.S. Dollar (USD)

Well, you can’t win ’em all, can you? The Greenback had a mixed performance against its major counterparts yesterday as it outpaced its lower-yielding rivals but lagged behind the euro. Will the U.S. dollar be able to find a clearer direction today? Read more…

Euro (EUR)

The euro bulls are back in town! After giving up ground in recent days, buyers decided to finally take control of the euro. EUR/USD climbed 96 pips to end its two-day slide, while EUR/CHF extended its gains, recording a 103-pip climb of its own. Read more…

British Pound (GBP)

Phew! The pound bears took a breather from their cause yesterday when nothing interesting came out of the U.K. GPB/USD ended the day unchanged against its open price, while GBP/JPY and GBP/CHF registered a couple of pips worth of gains. Read more…

Japanese Yen (JPY)

Another day, another selloff! The Japanese yen lost ground to the U.S. dollar once more as USD/JPY edged up to test the 90.00 major psychological resistance. EUR/JPY also ended the day in the green as the pair closed at 120.54 while GBP/JPY had its share of gains as it closed 15 pips above 144.00. Read more…

Canadian Dollar (CAD)

Surprise, surprise! The Loonie was able to pull ahead of the Greenback for the first time in three days despite posting worse-than-expected economic data. After rising to a high of .9886, USD/CAD retreated, falling to .9852, just 9 pips below its opening price. Read more…

Australian Dollar (AUD)

Yowza! It looks like weaker than expected Australian jobs data weighed the Aussie down for almost the entire day as the pair dipped to the 1.0500 handle. After the Asian session though, AUD/USD was able to pull up a bit as the Greenback sold off on mixed U.S. reports. Read more…

New Zealand Dollar (NZD)

Booooooring! With no data out from New Zealand, the Kiwi traders took a chill pill and concentrated on the major pairs instead. NZD/USD ended up with only a 6-pip gain after falling to an intraday low of .8382. Read more…

Swiss Franc (CHF)

The franc bulls lost more muscles in the charts yesterday as it continued to weaken against its counterparts. Its weakness was more pronounced in EUR/CHF, which shot up by as much as 103 pips. Talk about being a big loser! 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!