Daily Forex Fundamentals – January 24, 2012

What’s on the Economic Horizon
U.K. public sector net borrowing data due
Euro zone PMI figures to show improvements?
Canadian core retail sales could post 0.2% uptick

U.S. Dollar (USD)

The Greenback had a terrible case of Monday blues as it lost ground against most of its major counterparts. EUR/USD landed back above the 1.3000 handle while GBP/USD reached a high of 1.5603. Will these risk rallies last? Read more…

Euro (EUR)

Currahee! With risk appetite on its back, the euro marched up the charts like a member of the 506, posting new highs versus the dollar and the yen. After opening below 1.2900, EUR/USD rallied throughout the day, clearing the 1.3000 barrier to close at 1.3034, marking a 172-pip gain. Meanwhile, EUR/JPY rose 132 pips to finish at 100.33. Read more…

British Pound (GBP)

And the pips just keep comin’ for the pound! Even though BOE member Adam Posen had a few dovish things to say about the economy, the pound was able to extend its rally for another day. GBP/USD climbed another 42 pips on the day, recording its 6th straight day of gains. Read more…

Japanese Yen (JPY)

The Japanese yen took a beating from its higher-yielding rivals as risk appetite surged yesterday. EUR/JPY climbed back above the 100.00 handle while AUD/JPY broke past 80.00. Will the yen have a chance to bounce back today? Read more…

Canadian Dollar (CAD)

Just like its comdoll siblings, the Canadian dollar managed to post some decent gains versus the dollar, as USD/CAD fell 76 pips to close at 1.0074. Now the pair is sitting just below major support at 1.0100, what could be in store for the Loonie? Read more…

Australian Dollar (AUD)

Up, up, here we go! Aussie pairs were able to catch the strong wave of risk appetite yesterday, with AUD/USD reaching a high of 1.0574 and AUD/JPY breaking above the 80.00 major psychological handle. Can they hold on to their recent gains and even go for more? Read more…

New Zealand Dollar (NZD)

Out of the way, everyone! Kiwi comin’ through! The Kiwi extended its gains against the Greenback to start the week, as it put on a piptastic performance on the charts. After opening at .8053, NZD/USD scrambled up about 50 pips to end the day above the .8100 handle. Will it continue climbing today? Read more…

Swiss Franc (CHF)

It looked like all was lost for the Swissy as it began the week with a poor start. USD/CHF gapped up 44 pips over the weekend as it opened at .9388. However, as the day wore on, the Swissy grew stronger, and it eventually forced USD/CHF to close at .9265, 113 pips down from its open price. What a comeback, eh? Read more…

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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!

  • Jj_likes_4ndz

    All of the reports by Euorpean monetory union are much better than expected then where is the risk appetite?Is it the beginning of risk aversion?

  • Money

     Well that’s for posting this useful blog. All of the reports by Euorpean monetory union are much better than expected