Daily Forex Fundamentals – January 25, 2013

What’s on the Economic Horizon
U.S. new home sales at 387K in Dec?
German Ifo business climate to improve
U.K. preliminary GDP for Q4 2012 due today

U.S. Dollar (USD)

The Greenback sure likes to mix things up, doesn’t it? After yesterday’s showdown, the U.S. dollar reigned supreme against the pound, Aussie, Loonie, Kiwi, and yen but was outperformed by the euro and Swissy. What can we expect for the U.S. dollar today? Read more…

Euro (EUR)

The euro saw some wild price action when the region’s PMIs showed mixed results. The common currency dropped in the early U.K. session before it capped the day higher against the Greenback, the yen, and the pound. Booyah! Read more…

British Pound (GBP)

Still no signs of Lady Luck for the pound! For a fourth day in a row, GBP/USD finished lower. The pair opened at 1.5843 and closed at 1.5790. Read more…

Japanese Yen (JPY)

Yen bears, unite! After a few days of licking its wounds, the Japanese currency got heavily beaten again in yesterday’s trading as USD/JPY climbed to the 90.50 area. EUR/JPY also made a nice comeback as it managed to close 32 pips above the 120.00 handle. Read more…

Canadian Dollar (CAD)

The Loonie bears won another round of tug-o-pip against the bulls yesterday as they pushed USD/CAD firmly above parity. The pair reached a low at .9988 before it closed at 1.0031. Read more…

Australian Dollar (AUD)

Crash and burn, baby! The Australian dollar just couldn’t keep its head above water yesterday as AUD/USD tumbled below the 1.0500 handle and closed at 1.0472. Fortunately, the Aussie was able to take advantage of yen weakness, pushing AUD/JPY above the 94.00 mark. Read more…

New Zealand Dollar (NZD)

Aww, snap! The Kiwi’s flight to the bulls’ turf was cut short in yesterday’s trading. It pared some of its gains from Tuesday when NZD/USD closed yesterday’s trading 45 pips below its opening price at .8378. Read more…

Swiss Franc (CHF)

Aah, the Swiss franc kept on chillin’ like ice cream fillin’ on the charts. USD/CHF stayed in its range, finishing the day just 3 pips below its opening price. 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!