Daily Forex Fundamentals – January 30, 2012

What’s on the Economic Horizon

U.S. Q4 2011 GDP Disappoints Forecasts
BOJ To Intervene Soon?
Greek Debt Deal Expected To Be Announced During The EU Summit

U.S. Dollar (USD)

And just when investors were starting to get over the Fed’s dovish FOMC statement, negative data from the U.S. were released and reminded markets that QE3 is indeed a real possibility. Consequently, the Greenback was unable to bring sexy back in Friday’s trading. Boo! Read more…

Euro (EUR)

We got mixed results from the euro last Friday. While it came out on top and earned 115 pips in its battle against the dollar, it marked its second straight loss against the yen and lost 12 pips. What can we expect from it today? Read more…

British Pound (GBP)

Clean sweep baby! For the second straight week, cable shut out the dollar, posting another 44 pip victory on Friday to finish at 1.5731. For those of you who can’t do simple math, that’s TEN straight days that GBP/USD has closed higher! Boomshakalaka! Read more…

Japanese Yen (JPY)

The yen sumo-wrestled and knocked out its counterparts once again in Friday’s trading. USD/JPY dropped to its one-week low of 76.65 before ending the day at 76.68, 77 pips below its opening price. Against the euro, the yen managed to snatch a 12-pip win as EUR/JPY closed the week at 101.36. Read more…

Canadian Dollar (CAD)

Parity holds AGAIN! Though the Loonie gained 9 pips against its American counterpart, it was unable to push USD/CAD below parity as the pair greeted the weekend at 1.0008. Will Loonie bulls attack 1.0000 again today? Read more…

Australian Dollar (AUD)

Just like Willow Smith’s hair, AUD/USD got whipped back and forth between the 1.0650 and 1.0600 handles in Friday’s trading. Luckily for the Aussie, negative data came out of the U.S. and helped it end the day with a 38-pip win. Read more…

New Zealand Dollar (NZD)

That’s what you call ending the week with a bang! The Kiwi soared higher on Friday, as risk appetite was still rampant in the markets. This helped NZD/USD close at .8189, up a solid 48 pips on the day! Read more…

Swiss Franc (CHF)

Just like its European counterparts, the Swiss franc exerted its dominance over the greenback in last Friday’s action. USD/CHF closed 81 pips lower to finish the week at .9125. This marked the third consecutive week that USD/CHF has finished lower. 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!