Daily Forex Fundamentals – June 19, 2012

What’s on the Economic Horizon
RBA monetary policy meeting minutes due today
U.K. annual CPI to stay at 3.0%?
U.S. building permits and housing starts on tap
Spanish bond yields spiked above 7%

U.S. Dollar (USD)

The Greenback’s performance was as mixed as the reviews for the movie Rock of Ages as the lack of top-tier economic events left the major currencies in disarray. The U.S. dollar was able to end the day higher against the European currencies but it lost a bit of ground to the comdolls. Will it find a clearer direction today? Read more…

Euro (EUR)

It has only been one day since the conclusion of the Greek elections but traders have found a reason to sell EUR/USD again! Yesterday, spotlight shifted to Spain as yields for the country’s 10-year bonds rose above very significant 7% handle. EUR/USD, as a result, ended the U.S. trading session with a 123-pip loss at 1.2577. Read more…

British Pound (GBP)

While the pound bid cheerio to profits, it was able to extend its gains against its other counterparts. While Cable slipped by 46 pips to 1.5668, EUR/GBP also fell to .8028 while GBP/JPY registered another 24-pip gain. Read more…

Japanese Yen (JPY)

The Japanese yen got knocked down by the U.S. dollar, British pound, and Australian dollar in yesterday’s trading, but at least it managed to score a win against the euro. USD/JPY struggled to hold on to the 79.00 handle as it closed at 79.09 while EUR/JPY slipped from its day open price of 100.04 to close at 99.47. Read more…

Canadian Dollar (CAD)

The Loonie was unable to hold its ground against the safe haven Greenback yesterday as a wave of risk aversion hit the markets. Apparently, the market’s focus has turned to Spain again as the yields for its 10-year bonds climbed above the 7% handle. USD/CAD closed the day at 1.0242, 33 pips higher from its Asian session opening price. Read more…

Australian Dollar (AUD)

Thanks to stronger than expected Australian economic data, the Aussie was able to outpace both the Greenback and the Japanese yen in yesterday’s trading. AUD/USD closed a couple of pips up from its 1.0117 open price while AUD/JPY ended the day 2 pips above the 80.00 handle. Will it be able to hold on to its recent gains? Read more…

New Zealand Dollar (NZD)

That’s strike three for the Kiwi bulls! NZD/USD got on the risk appetite train and posted its third consecutive gain yesterday. The pair only dipped to a low of .7888 before it finished the day at .7922. What fueled the Kiwi bulls’ fire? Read more…

Swiss Franc (CHF)

The franc was huddled to the losers’ camp yesterday as risk appetite cut back demand for the low-yielding currency. USD/CHF rocketed by 90 pips to .9549, while GBP/CHF also enjoyed a nice 99-pip rally. That means cheaper Swiss chocolates, yo! 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!