Daily Forex Fundamentals – January 9, 2013

What’s on the Economic Horizon

AUD Retail Sales Fail to Hit Expectations
Japanese Government Invests in ESM Bonds

U.S. Dollar (USD)

Once again, consolidation ruled the markets, as the major currencies pairs all pretty much stuck within range. Could we see more of the same today from Greenback pairs? Read more…

Euro (EUR)

Just like Taylor Swift, it seems like the euro found itself heartbroken in yesterday’s trading. EUR/USD traded well above the 1.3100 handle during the Tokyo and London sessions but dropped below the psychological level during the New York session. It finished the day 29 pips lower at 1.3083. Read more…

British Pound (GBP)

It was a relatively quiet trading session in terms of data, but Cable still found itself exhibiting a lot of movement yesterday. The pair began the day at 1.6107 and finished considerably lower at 1.6058. Read more…

Japanese Yen (JPY)

Domination baby! The yen caught fire yesterday, as it managed to pull ahead of its major counterparts. EUR/JPY closed 109 pips lower to finish at 114.08, while GBP/JPY ended at 140.03, down 144 pips on the day. Read more…

Canadian Dollar (CAD)

Without any major economic report from Canada, the Loonie just kept on chillin’ like vanilla bread puddin’ in yesterday’s trading. USD/CAD finished the day almost unchanged, only 7 pips above its opening price at .9871. Read more…

Australian Dollar (AUD)

Chillin’ like a villain, that’s what AUD/USD’s doing right now! With the markets in snooze-mode right now, AUD/USD formed a perfect doji yesterday on the daily chart, finishing at 1.0495. Read more…

New Zealand Dollar (NZD)

If you’re into surfing, then you would’ve enjoyed the Kiwi’s price action yesterday. The currency moved like a wave yesterday: it fell early in the Asian session, rallied during the European session, and then sold off again during the U.S. session! At the end of the day, the Kiwi was barely changed as it closed at .8365, which was just a pip higher from where it had opened. Read more…

Swiss Franc (CHF)

As the old adage goes, “No pain, no gain.” Unfortunately for the Swissy, it only got the first part of the memo. It got all the pain, but absolutely no gain at all. USD/CHF, which started off the day at .9216, finished 32 pips higher at .9240. 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!