Daily Forex Fundamentals – June 13, 2012

What’s on the Economic Horizon

U.S. Producer Price Index and Retail Sales on Deck
Euro zone Industrial Production Predicted to Have Fallen 0.9%

U.S. Dollar (USD)

The dollar was weaker across the board against other major currencies yesterday as risk aversion tempered. There was no single event that triggered the movement though, as the Greek elections or the Spanish bailout still hasn’t pushed through. The U.S. dollar index, which tracks the performance of the Greenback versus a basket of other currencies, fell to 82.88 from its opening level at 83.07. Read more…

Euro (EUR)

With no economic data out from the euro zone, the euro bears took a chill pill yesterday and took profit on their short euro positions. EUR/USD capped the day with a 22-pip gain, while EUR/JPY also enjoyed a 20-pip lift. Are we looking at a possible reversal, or just a breather? Read more…

British Pound (GBP)

Weak data ain’t got nothin’ on the pound, baby! Despite disappointing manufacturing figures yesterday, both GBP/USD and GBP/JPY traded higher. By the day’s close GBP/USD was up 89 pips from its opening price at 1.5577. Meanwhile, GBP/JPY closed at 123.81 after opening at 123.07. Read more…

Japanese Yen (JPY)

The low-yielding Japanese yen was unable to hold its ground yesterday as a slight case of risk appetite managed to make its way to the market. The yen was sold-off against other major currencies, giving up 20 pips to the euro and 74 pips to the pound. Read more…

Canadian Dollar (CAD)

Not so fast, Greenback! Thanks to unwinding of short positions and bullish news for oil, the Loonie was able to pare some of its intraweek losses against the Greenback. USD/CAD fell by 47 pips to 1.0257 after hitting an intraday high of 1.0326. What’s in store for the Loonie this week? Read more…

Australian Dollar (AUD)

Despite the NAB Business Confidence survey turning negative and a drop in the Westpac consumer sentiment, the Aussie still managed to flex its muscles yesterday. AUD/USD closed the day at .9950, a solid 81 pips higher from its opening price that day. Read more…

New Zealand Dollar (NZD)

Make way for the Kiwi yo! NZD/USD hustled up the charts in yesterday’s trading, closing with a wicked awesome 78-pip gain at .7768. Boo yeah! Read more…

Swiss Franc (CHF)

Slow and steady was the way of the Swissy in yesterday’s trading. USD/CHF just hovered above the .9600 handle before closing the day 15 pips below its opening price at .9605. 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!

  • Kketer

    great report pipnoculars ur reports really give me an edge