Daily Forex Fundamentals – June 4, 2012

What’s on the Economic Horizon
U.K. traders on bank holiday
Euro zone Sentix investor confidence index due
BOJ Governor Shirakawa set to testify today

U.S. Dollar (USD)

Thanks to the disappointing NFP figures, the Greenback lost ground against most of its major counterparts last Friday. EUR/USD ended the day in the green as it closed 19 pips above the 1.2400 handle while USD/CHF closed at .9672. Will fundamentals take over and crush the Greenback in the coming days? Read more…

Euro (EUR)

EUR/USD dropped to a fresh 22-month low at 1.2289 against the dollar at the start of the New York session. But before the day was through, it had bounced back sharply to end the day 54 pips higher at 1.2419. Is this the end of the euro’s slide? Read more…

British Pound (GBP)

Make that NINE in a row for the cable bears! With risk aversion still dominating the markets, Lady Cable was dumped over the London bridge to suffer a 51-pip loss versus the dollar. GBP/USD is now approaching its 2012 lows. Question is, will it hold? Read more…

Japanese Yen (JPY)

It was almost a perfect day for the Japanese yen as it continued to advance against most of its major counterparts last Friday. USD/JPY dipped to a low of 77.66 before closing at 78.15 while GBP/JPY tumbled to the 120.00 handle. What’s surprising was that the euro managed to sneak in some gains as EUR/JPY closed 15 pips up from its 96.89 open price! Read more…

Canadian Dollar (CAD)

What a disappointment! The Loonie extended its slide against the Greenback by another 67 pips as soft GDP data kept the Canadian currency from lifting off. Will we see a fourth straight day of losses today? Read more…

Australian Dollar (AUD)

Weaker than expected Chinese data crippled the Aussie early on and prevented it from taking advantage of the U.S. dollar selloff that occurred later in the day. AUD/USD dipped to a low of .9582 before ending the day at .9686 while AUD/JPY closed at 75.69. Read more…

New Zealand Dollar (NZD)

Up and down day for the Kiwi, as it looked like it was headed for new lows but soon recovered to form a doji on the daily chart. NZD/USD retested lows at .7460 before finally settling at .7533, just 3 pips below its opening price. Read more…

Swiss Franc (CHF)

Way to go Swissy! Despite weaker-than-expected economic data and a wave of risk aversion taking over the markets, the franc didn’t buckle last Friday! Instead, it put its hard-hat on, went to work, and was reward with a 42-pip win versus the dollar. Sweet! 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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