Daily Forex Fundamentals – January 22, 2013

What’s on the Economic Horizon

BOJ Expected to Raise Inflation Target to 2% and Announce Unlimited Stimulus
Canada’s Retail Sales Expected to Print Lower than its Previous Reading
Draghi’s Speech Scheduled at 7:00 pm GMT

U.S. Dollar (USD)

With the U.S. celebrating Martin Luther King day as well as Obama’s second inauguration, the dollar ended up in mixed territories against its counterparts. EUR/USD inched 6 pips higher than its open price while USD/CHF gave up 29 pips. Read more…

Euro (EUR)

Consolidation is the name of the game! EUR/USD simply moved sideways yesterday as the pair held on to the 1.3000 major psychological level. Meanwhile, EUR/JPY had another losing day as it closed 41 pips down from its 119.90 open price. Read more…

British Pound (GBP)

And the slide continues! To start the week, GBP/USD gapped down 19 pips and continued falling until it ended at 1.5826, which was 20 pips below its opening price. Will the pound finally break its losing streak today? Read more…

Japanese Yen (JPY)

And the countdown begins! The yen pared back some of its losses against its counterparts yesterday as market players position themselves ahead of the big BOJ monetary policy announcement. GBP/JPY lost 73 pips yesterday while USD/JPY retreated from the major 90.00 handle. Read more…

Canadian Dollar (CAD)

Although USD/CAD consolidated for most of the day, the Loonie still lost a bit of ground to the Greenback as the pair closed 12 pips up from its .9919 open price. Will the Loonie have a chance to recover today? Read more…

Australian Dollar (AUD)

There weren’t any big market waves that affected the comdolls’ price action yesterday, so the Aussie was stuck in tight ranges against its counterparts. For example, AUD/USD’s range was only 11 pips before it capped the day 6 pips higher than its open price. Read more…

New Zealand Dollar (NZD)

The Kiwi was chillin’ like ice cream fillin’ to start the week as NZD/USD practically finished right where it started. The pair started the week at .8367 and dipped down to .8334 before finally returning to .8364 where it settled at the end of the day. Read more…

Swiss Franc (CHF)

The Swiss franc was on stealth mode yesterday, sneaking wins and snatching pips from the euro and the dollar. The markets were relatively quiet, but that didn’t stop it from pushing EUR/CHF down 33 pips and USD/CHF down 31 pips. Talk about being a ninja! 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!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>