Daily Forex Fundamentals – March 2, 2012

What’s on the Economic Horizon

Canadian Monthly GDP Seen at 0.3%
U.K. Construction PMI on Tap

U.S. Dollar (USD)

Mixed day for the scrilla, which continued to rise versus the euro and franc but lost out against the pound and the comdolls. Will we see more of the same results in today’s trading? Read more…

Euro (EUR)

And the onslaught continued as the euro bled out pips for another day. EUR/USD ended yesterday’s trading 22 pips below its opening price at 1.3306. Meanwhile, against the yen, it gave up 25 pips as EUR/JPY closed at 107.92. Read more…

British Pound (GBP)

Even though economic data from the U.K. was mixed, the pound still found a reason to climb up in the charts yesterday. GBP/USD, which began the Asian trading session at 1.5917, closed the day with a respectable 33-pip win. Read more…

Japanese Yen (JPY)

It was a day of recovery for the yen, which was able to pare off some off its losses to the dollar from earlier this week. USD/JPY traded lower yesterday and finished at 81.11, down 18 pips from its opening price on the day. Read more…

Canadian Dollar (CAD)

The Loonie felt groovy in yesterday’s trading despite negative data, tapping its new one-year high against the dollar at .9842. By the day’s close, USD/CAD settled at .9859, 36 pips below its opening price. Read more…

Australian Dollar (AUD)

Despite the worse-than-expected results from the building approvals and private capital expenditure reports released early yesterday, the Aussie was able to turn it around in the latter sessions as risk appetite improved slightly. AUD/USD rose 69 pips to finish at 1.0797. Will it finally close above the key 1.0800 mark today? Read more…

New Zealand Dollar (NZD)

After its seesaw performance the day before, the NZD/USD decided to just chill in the charts and stage a steady but slow uptrend in yesterday’s trading session. The pair closed the day at .8382, a solid 38 pips higher from its opening price during the Asian trading session. Read more…

Swiss Franc (CHF)

Despite the better-than-expected SVME Purchasing Managers’ Index and GDP report , the Swissy still found itself losing against most major currencies yesterday. With the threat of intervention from the Swiss National Bank (SNB) always present, it appears that traders aren’t very keen in buying up the currency. Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!