Daily Forex Fundamentals – March 20, 2012

What’s on the Economic Horizon

RBA Minutes Hint Possible Rate Cuts?
Hawkish Remarks From BOE Member Miles
Greek And Spanish Bond Auctions Today!

U.S. Dollar (USD)

Ka-pow! The dollar got pips knocked out of it as risk appetite dominated market sentiment. EUR/USD broke above the 1.3200 handle to end the day 62 pips above its opening price at 1.3238. Meanwhile, GBP/USD closed at 1.5894 after opening at 1.5841. Read more…

Euro (EUR)

Om nom nom nom! The market’s appetite for the euro was extremely strong yesterday as they bought it up in massive quantities. With help from better-than-expected current account data, EUR/USD managed to chalk up a third straight day of gains as it climbed 62 pips to 1.3236. Read more…

British Pound (GBP)

Why thank you Mr. Miles! Thanks to some rather bullish comments by the MPC hotshot helped the pound rally higher to start the week. GBP/USD managed to post a 53-pip victory and close at 1.5894. Could Lady Cable be headed back to 1.6000? Read more…

Japanese Yen (JPY)

Although the yen suffered more losses to the euro, giving up 44 pips in yesterday’s trading, it was still able to post another win against the dollar. USD/JPY ended the day 5 pips below its opening price at 83.35. Read more…

Canadian Dollar (CAD)

The Loonie was off to a strong start to the week as it snatched 43 pips away from the Greenback to push USD/CAD down to .9870. Will it follow through with another win today? Read more…

Australian Dollar (AUD)

And just when dollar bulls thought they were gonna start the week off with a win, driving AUD/USD down to a low of 1.0558, the Aussie bulls stepped up their game to end the day 13 pips above its opening price at 1.0608. Boo yeah! Read more…

New Zealand Dollar (NZD)

The New Zealand dollar joined its comdoll fraternity brothas and posted some decent gains in yesterday’s trading action. NZD/USD rose to as high as .8289 before finally settling at .8263, marking a 12-pip win for the day. Read more…

Swiss Franc (CHF)

Score another one for the franc! After consolidating for more of the day, USD/CHF broke down late, eventually closing at .9112 and marking a 46-pip victory! 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!