Daily Forex Fundamentals – January 8, 2013

What’s on the Economic Horizon

Euro zone Retail Sales Anticipated to Have Turned Positive in December
Australian Retail Sales Data on Tap
Swiss Unemployment Rate to Increase to 11.8% from 11.7%

U.S. Dollar (USD)

Yesterday’s trading session proved to be a very bad one for the dollar as it fell across the board for the first time in 7 days. The U.S. dollar index, which tracks the performance of the dollar versus a basket of major currencies, plunged to 80.72 from 80.93. Read more…

Euro (EUR)

After trading as low as 1.3016, EUR/USD rallied late and managed to finish at 1.3113, up a decent 31 pips on the day. Could we see more euro strength in today’s matchups? Read more…

British Pound (GBP)

With market participants seemingly lost for direction, the pound was able to rock the charts like One Direction. (Don’t judge me for knowing who they are.) GBP/USD finished the day higher at 1.3115 after opening at 1.3076. Read more…

Japanese Yen (JPY)

Rejoice, yen bulls! Thanks to some positive comments from Japanese government officials, the yen was able to slightly gain versus other major currencies yesterday. EUR/JPY fell to 115.18 from 115.30 while USD/JPY dropped to 87.84 from 88.13. Read more…

Canadian Dollar (CAD)

With no hard data on tap, USD/CAD stuck within a tight range of just 30 pips, eventually ending the day at .9863. Will we see more of the same consolidation or is a breakout in the cards? Read more…

Australian Dollar (AUD)

The Aussie showed everyone who is the boss yesterday as it rallied versus the safe haven dollar. AUD/USD, which began the day at 1.0478, found itself sitting at 1.0495 by the end of the U.S. trading session. Read more…

New Zealand Dollar (NZD)

No data? No problem! The Kiwi was able to skyrocket through the charts in yesterday’s trading despite the lack of economic reports from New Zealand. NZD/USD finished the day higher at .8371 after opening at .8304. Read more…

Swiss Franc (CHF)

Franc bulls must’ve felt like they were on top of the world in yesterday’s trading as the currency was able to strike a win against the dollar. USD/CHF closed the day lower at .9213 after opening at .9242. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!