Daily Forex Fundamentals – June 12, 2012

What’s on the Economic Horizon

RBA Glenn Stevens To Talk At Economic Forum
U.K. Manufacturing Production Figures on Tap
Westpac Consumer Sentiment Due Today

U.S. Dollar (USD)

Now that’s how you start the week off right! Dollar pairs filled their weekend gaps as risk aversion helped the scrilla zip past its major counterparts. Will the Monday mayhem continue or will the Greenback be thunderstruck this Tuesday? Read more…

Euro (EUR)

Another day, another set of problems for the euro! Although the shared currency was off to a roaring start as it gapped up against the Greenback and the yen over the weekend, these gaps were quickly filled as the euro slid down the charts the entire day. What went wrong in the euro zone? Read more…

British Pound (GBP)

It looked as though Cable was going to make serious headway up the charts, as it had climbed to a high of 1.5583 in the London session. But it gave up all of its gains come the New York session, and the pair found itself right where it began the week at 1.5583! Who pressed CTRL + Z?? Read more…

Japanese Yen (JPY)

No wonder they call it the Land of the Rising Sun – that’s all the yen did yesterday! With risk aversion back in tow, the yen was the biggest winner in yesterday’s currency battles. EUR/JPY closed 145 pips lower to finish at 99.20, while GBP/JPY dropped 37 pips to end the day at 123.07. Read more…

Canadian Dollar (CAD)

USD/CAD’s weekend gap just got filled! Now what? Risk aversion weighed on the higher-yielding Canadian dollar and oil prices yesterday, but will this market behavior carry on? Take a look at what’s in store for the Loonie today. Read more…

Australian Dollar (AUD)

Looks like parity is just too tough for the Aussie bulls! For the second time in three days, the Aussie was rejected at the 1.0000 mark. Not only that, but AUD/USD dropped to new lows and finished at .9869, 117 pips lower on the day! What gives? Read more…

New Zealand Dollar (NZD)

What happens when a flightless bird jumps off a cliff? It drops like a rock! The Kiwi’s price action was no different yesterday as it fell sharply after gapping up against the Greenback over the weekend. NZD/USD ended the day 69 pips below its opening price at .7690. Read more…

Swiss Franc (CHF)

Swissy bears sure didn’t wait long to fill the gap that had formed on USD/CHF over the weekend! The 100-pip gap had been filled by the time New York traders entered the picture! USD/CHF ended the day 99 pips above its opening price at .9620. 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!