Daily Forex Fundamentals – January 2, 2013

What’s on the Economic Horizon

U.S. Congress to Vote on Senate Bill
Spanish and Italian Manufacturing PMIs on Tap

U.S. Dollar (USD)

With all the focus on the Fiscal Cliff these holidays, dollar trading was pretty subdued over the holidays. EUR/USD traded within a range of around 100 pips, while USD/CAD remained stuck between .9920 and .9960. Read more…

Euro (EUR)

The euro’s attempts to breach the 1.3300 handle have gone in vain as my efforts had been in avoiding my Momma’s famous homemade eggnog. After strongly rallying past 1.3100, EUR/USD has spent the most recent trading days around 1.3200, falling short of trading past 1.3300. Read more…

British Pound (GBP)

Talk about ending the year strong! The pound put the hurt on the dollar in the last few days of the year, pulling GBP/USD up from 1.6100 to 1.6250. And so far, it looks like it has plans to go higher this 2013! Let’s see if it has what it takes! Read more…

Japanese Yen (JPY)

What a crazy few months its been for the yen! At beginning of October, USD/JPY was trading 78.00. Three months later, the pair is now up at 87.00, and looks liked it could be headed for new highs! Read more…

Canadian Dollar (CAD)

Was the Loonie naughty in 2012? It looks like Santa didn’t give it the gift of pips in December. USD/CAD found a bottom at .9825 early on in the month, inching higher all the way up to .9950. Read more…

Australian Dollar (AUD)

Chillin’ like a villain, baby! That’s the best way to describe Aussie trading over the past week, as AUD/USD stuck within a rising channel. With the holidays now done and over with, what could be in store for us this week? Read more…

New Zealand Dollar (NZD)

The Kiwi sure gave us a wild ride in 2012, didn’t it? Heck, it was one of the few currencies that actually gave us something to work with in the last few days of the year, as NZD/USD dropped from .8500 to .8200! Now let’s see if it’ll start this year right and rock our world this 2013! Read more…

Swiss Franc (CHF)

Over the break, the Swissy was as calm as a cat, as it traded just between .9150 and .9100 against the dollar. Against the euro, it was just as chill with EUR/CHF ranging just below 1.2100. The question now is, will it finally come to life today or will the inactivity of the break carry over into 2013? 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!