Daily Forex Fundamentals – June 11, 2013

What’s on the Economic Horizon

German Court to Decide Legality of OMT Today
U.K. Manufacturing Production to Have Remained Flat in May

U.S. Dollar (USD)

With no major data out from the U.S., the dollar’s trading was as mixed as coleslaw. The Greenback posted gains against the comdolls and the yen, but experienced losses against the European currencies. Read more…

Euro (EUR)

EUR/USD was able to bank respectable gains to begin the week, closing 59 pips from where it had started yesterday. It began the day at 1.3198 and closed the U.S. trading session at 1.3257. Read more…

British Pound (GBP)

Boo yeah! The pound is off to a good start! Despite the lack of reports from the U.K., it scored a 50-pip win against the dollar when GBP/USD closed higher yesterday at 1.5572. Meanwhile, against the yen, it was up at 153.74 from 151.89 by the end of the day’s trading! Read more…

Japanese Yen (JPY)

Ooomph! The yen received another punch in the gut yesterday as it lost against most of its major counterparts. It ended the day 97 pips lower against the dollar, 187 pips down against the euro, and a ridiculous 211 pips lower against the pound. Yikes! Read more…

Canadian Dollar (CAD)

Boooooooring! Because of the lack of tier 1 economic data, USD/CAD was completely directionless yesterday, and simply traded within a very tight range. The pair began the day at 1.0207, paced back and worth between 1.0225 and 1.0166, and then closed at 1.0194. Read more…

Australian Dollar (AUD)

After gapping lower at the start of the week, AUD/USD inched higher and actually finished the day 29 pips above its open price. So what kept the bulls interested yesterday? Read more…

New Zealand Dollar (NZD)

Slow and steady was the way of the Kiwi in yesterday’s trading. NZD/USD opened the day at .7825 and crept up the charts to close the day at .7899. Read more…

Swiss Franc (CHF)

Aaah, there’s nothing like good ol’ positive data to get the franc cruisin’ into the bulls’ turf. It scored a 10-pip gain against the dollar to open up the week, with USD/CHF closing at .9355. 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!