Daily Forex Fundamentals – June 13, 2011

What’s on the Economic Horizon

U.S. Consumer Spending, Inflation, and Manufacturing Data Due This Week!
RICS Housing Price Balance Due Late Tonight
China’s Economic Growth Slowing?

U.S. Dollar (USD)

Risk aversion was the dollar’s Steven Spipberg last Friday that directed its performance to pull-off a Super 8, first place finish in the charts. It won against all of its major counterparts, scoring triple-digit wins against higher-yielding currencies and modest gains against the Swissy and the yen. Read more…

Euro (EUR)

It appears that the third time is NOT the charm for the euro as it posted losses across the board again last Friday. EUR/USD closed the U.S. trading session on Friday a whopping 177 pips lower from its opening price during the Asian session. Meanwhile, EUR/JPY staged a massive 151 drop. Read more…

British Pound (GBP)

KABOOM! After sticking within a tight range throughout the week, GBP/USD finally broke through to the downside, falling 134 pips to end the day at 1.6227. Is Cable now headed for recent lows at 1.6060? Read more…

Japanese Yen (JPY)

The yen’s scorecard during Friday’s trading was as mixed as a Piña Colada. Although it got pipsy against the euro and the pound, gaining 130 pips and 105 pips respectively, it wasn’t able to score a win from the dollar as USD/JPY ended the day 8 pips higher from its opening price at 80.34. Read more…

Canadian Dollar (CAD)

Risk aversion was the name of the game last Friday, which meant currencies like the Loonie was sold-off like ice cream on a hot summer day. USD/CAD closed the day at .9783, 52 pips higher from its opening price during the Asian trading session. Read more…

Australian Dollar (AUD)

You can run but you can’t hide from risk aversion, Aussie! Just like all higher-yielding currencies, the comdoll fell victim to market sentiment last Friday and traded lower against the dollar. AUD/USD opened at 1.0629 and tumbled to its closing price at 1.0550. Read more…

New Zealand Dollar (NZD)

With risk aversion taking over the market, the Kiwi was just one of the dollar’s many victims. NZD/USD gave back some of its gains from Thursday, closing 52 pips lower at .8216. Read more…

Swiss Franc (CHF)

With risk aversion taking over the market, the franc bulls racketed up the pips against the euro last Friday. EUR/CHF tested recent lows at 1.2060 and ultimately closed 120 pips lower at 1.2083. Will the franc continue to dominate this week? 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!