Daily Forex Fundamentals – March 13, 2012

What’s on the Economic Horizon

BOJ to lean towards more easing?
U.S. retail sales on tap
U.K. trade balance due today

U.S. Dollar (USD)

It’s payback time! For the low-yielding currencies, that is. Save for the euro, the Greenback continued to dominate its high-yielding counterparts yesterday with Cable slipping by 27 pips to 1.5641. Meanwhile, USD/CHF also registered a 35-pip loss at .9166 and USD/JPY fell to 82.23. What’s up with that? Read more…

Euro (EUR)

Despite resurfacing concerns about debt contagion, traders gave the euro some lovin’ as the shared currency edged slightly higher against its major counterparts yesterday. EUR/USD managed to close nearly 50 pips up from its 1.3107 open price while EUR/JPY ended the day at 18 pips above the 108.00 handle. Read more…

British Pound (GBP)

Back to back losses for the pound! For the second straight day, the British currency found itself on the losing team as it edged lower against the dollar and the yen. While GBP/JPY fell steadily to inch down 64 pips to 128.63, GBP/USD sold off sharply in the London session to end the day 27 pips lower at 1.5641. Will it extend its losses today? Read more…

Japanese Yen (JPY)

Darn, that was so close! Concerns on China’s weak trade data and a possible debt contagion in the euro zone boosted the low-yielding yen against its counterparts early in the day, but the currency wiped out most of its gains during the later trading sessions. Read more…

Canadian Dollar (CAD)

Consolidation is the name of the game! USD/CAD seems set to hold on to the .9900 handle as it moved sideways yesterday. Still, the pair managed to chalk up a tiny gain as it closed 14 pips up from its .9911 open price. Will we see a bigger move from this pair today? Read more…

Australian Dollar (AUD)

When China’s economy shows any weakness you just know that Aussie traders will have a thing or two to say about it! Worse-than-expected data from both China dragged AUD/USD to its 1.0474 intraday low, and it wasn’t until the U.S. session that the pair leveled off to end the day at 1.0516. Read more…

New Zealand Dollar (NZD)

Talk about having your ups and downs! NZD/USD was all over the place yesterday, climbing to as high as .8201 then falling to as low as .8137 before it ended the day almost unchanged at .8180. Read more…

Swiss Franc (CHF)

Another mixed performance from the Swissy! While it strengthened against the dollar to bring USD/CHF down 35 pips to .9166, it hardly moved a muscle against the euro as EUR/CHF ended the day just 1 pip lower at 1.2057. 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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