Daily Forex Fundamentals – June 12, 2013

What’s on the Economic Horizon

U.K. Employment Numbers Due Today
RBNZ To Keep Interest Rates Steady at 2.50%?

U.S. Dollar (USD)

When will the bleeding stop?! Once again, the dollar was punished on the charts, as it lost ground to all of its major counterparts. While it managed to hold its ground against the comdolls, it simply couldn’t compete with the pound, euro, and the yen. USD/JPY, for instance, posted its biggest drop since 2011 as it fell from 98.75 to 95.90. Read more…

Euro (EUR)

Aaaand we have a winner! No really, we only have one winner. The euro may have reached its three-month highs against the Greenback, but it posted losses against the pound, yen, and the franc. What’s up with that?! Read more…

British Pound (GBP)

Cable showed that its gains last week weren’t a fluke as it staged another stellar rally yesterday. The pair began the day at 1.5578, sold-off initially to 1.5522, and then skyrocketed to close the U.S. trading session at 1.5648. All in all, the pair clocked in a very respectable 70-pip victory. Read more…

Japanese Yen (JPY)

No more Mr. Nice Guy! The yen might have let its counterparts get the best of it early in the week, but it wasn’t fooling around yesterday. It struck back hard, taking USD/JPY 285 pips lower while dragging EUR/JPY down 321 pips. Read more…

Canadian Dollar (CAD)

That was a close one! Comdoll aversion and disappointing crude oil reports pushed USD/CAD to an intraday high of 1.0253, but the bulls managed to hold off the bears as the pair closed 2 pips lower than its open price. Phew! Read more…

Australian Dollar (AUD)

The Aussie staged a late comeback, but it still wasn’t enough to push AUD/USD above its opening price. After trading as low as .9326, AUD/USD rallied to close at .9438 with a 23-pip loss on the day. Read more…

New Zealand Dollar (NZD)

NZD/USD moved in an almost perfect “V” formation yesterday as it sold-off heavily during the Asian session but pared all of its losses during the European and U.S. trading sessions. The pair closed the day at .7871, hardly changed from its opening price at .7896. Read more…

Swiss Franc (CHF)

Despite the lack of economic data, the Swiss franc was still able to trend higher yesterday. The currency managed to rally 86 pips versus the dollar and 59 pips against the euro. 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!