Daily Forex Fundamentals – June 28, 2012

What’s on the Economic Horizon
Italian bond auction scheduled today
Japanese inflation reports on tap
U.K. current deficit to widen to 8.9 billion GBP?

U.S. Dollar (USD)

The Greenback’s performance was as mixed as a bag of nuts yesterday as it outpaced the European currencies and the Loonie but lost ground to the Aussie and the Kiwi. Will the U.S. dollar find a clearer direction today? Read more…

Euro (EUR)

And the sell-off continues! The euro resumed its gentle slide down the charts yesterday as the markets expressed their lack of hope for a resolution in the upcoming EU summit. EUR/USD receded from its opening price of 1.2495 to end the day at 1.2467. Read more…

British Pound (GBP)

It was rough sailing for Lady Cable yesterday, as it gave back all its gains versus the dollar. GBP/USD dropped 77 pips to finish at 1.5566. Is the pound in for more losses today or can the bulls make a comeback? Read more…

Japanese Yen (JPY)

The Japanese yen lost ground against most of its major counterparts, except for the British pound. GBP/JPY closed 18 pips down from its 124.28 open price while EUR/JPY chalked up a tiny gain as ended the day at 99.39. Can the yen bounce back today? Read more…

Canadian Dollar (CAD)

The Loonie stumbled against the dollar yesterday as general market sentiment favored the safe havens once again. With the European Union summit just around the corner, investor confidence is low and few believe anything will be resolved. As a result, USD/CAD crept up from its opening price of 1.0240 to end the day at 1.0255. Read more…

Australian Dollar (AUD)

Despite the pre-EU summit jitters, the Aussie was able to sneak in some gains against the U.S. dollar and the Japanese yen with AUD/USD closing 11 pips up from its 1.0066 open price and AUD/JPY landing 34 pips above the 80.00 handle. Read more…

New Zealand Dollar (NZD)

Talk about resilient! After trading as low as .7875, the Kiwi bulls came roaring back, allowing the pair to end the day at .7917, marking a 2-pip victory for the day. Read more…

Swiss Franc (CHF)

Another quiet day in Swissy trading, as it pretty much stayed within range. USD/CHF traded within a range of just 40 pips and ended the day at .9634, up just 22 pips from its opening price. 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!

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