Daily Forex Fundamentals – June 14, 2012

What’s on the Economic Horizon

U.S. inflation data on tap
RBNZ holds rates at 2.50%
SNB interest rate decision due today

U.S. Dollar (USD)

BAM! Thanks to surprisingly weak economic data and unwinding of short positions, the dollar once again took a backseat against its major counterparts. EUR/USD rose to 1.2572, while USD/CHF also took a nasty 51-pip fall. What gives? Read more…

Euro (EUR)

With the euro zone still grappling with problems left and right, it seemed like Mission Impossible for the euro to end the day higher yesterday. But it did. The shared currency pulled off a Tom Cruise in yesterday’s trading and cruised up the charts. Read more…

British Pound (GBP)

The pound may have been stable for the most part of the day, but the bears sure do know how to rock things up at the end of the day! GBP/USD, after trading within a 50-pip range for the entire Asian and European trading session, was sold-off heavily during the U.S. session when Egan-Jones, a credit rating agency, announced that it had downgraded Spain’s rating to CCC+ with a negative outlook. Read more…

Japanese Yen (JPY)

With no economic report from the Land of the Rising Sun, the yen traded on appetite for the low-yielding currency. Fortunately, some were in a buying mood. While GBP/JPY did fall to 123.19, EUR/JPY had also risen by 41 pips to 99.80. What’s in store for the yen today? Read more…

Canadian Dollar (CAD)

Without any economic data from Canada, it seemed that the Loonie got bullied in yesterday’s trading. USD/CAD closed the day higher in yesterday’s trading at 1.0292, up 26 pips from its opening price of 1.0266. Read more…

Australian Dollar (AUD)

Looks like parity is still boss for AUD/USD! After hitting an intraday high near the psychological level yesterday, the Aussie pared back some of its gains and ended the day with a 5-pip loss to .9945. Read more…

New Zealand Dollar (NZD)

Similar to other major currency pairs, NZD/USD had mostly traded in a horizontal for the most part of the day before dipping late in the U.S. trading session. NZD/USD closed the day at .7748, 20 pips lower from its opening price. Read more…

Swiss Franc (CHF)

The Swissy was one of the few currencies that was able to rally versus the safe haven Greenback. USD/CHF, which began the day at .9605, closed the U.S. trading session 51 pips lower at .9554. 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!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>