Daily Forex Fundamentals – March 22, 2012

What’s on the Economic Horizon

MPC Minutes Hint More QE for the U.K.?
Euro Zone PMI Reports on Tap!
Concerns on Chinese Growth Weigh on Sentiment

U.S. Dollar (USD)

With risk aversion booming in the markets like an Avicii mix, the dollar once again felt groovy by the end of yesterday’s trading, posting wins against most of its counterparts. It managed to snag gains from the euro, Aussie, Kiwi, Loonie, and the Swiss franc. Only the pound and the yen were able to stand their ground against the dollar. Read more…

Euro (EUR)

Yesterday, we saw a chink in the euro’s armor as risk aversion managed to make its way into the market. EUR/USD ended the day at 1.3216, 9 pips lower from its opening price during the Asian session. Read more…

British Pound (GBP)

What a crazy day for Lady Cable! After shooting higher at the start of the London session to hit a high at 1.5924, GBP/USD soon came crashing down, falling to as low as 1.5818. By the end of the day though, GBP/USD had reversed course and finished at 1.5873, up 10 pips from its opening price. Read more…

Japanese Yen (JPY)

Boy, did the yen hustle some muscle in yesterday’s trading! USD/JPY rallied to tap its intraday high at 84.10 when it suddenly pared all its gains to end the day at 83.41, 30 pips below its opening price. Read more…

Canadian Dollar (CAD)

Despite the market’s sour sentiment, the Loonie was still able to stay afloat versus the safe haven Greenback yesterday. USD/CAD closed the U.S. trading session at .9923, just 7 pips higher from where it began that day. Read more…

Australian Dollar (AUD)

Geronimo! AUD/USD traded above the 1.0500 handle briefly before plunging to an intraday low of 1.0421. The Aussie managed to pare some of its losses to end the day at 1.0459, 22 pips below its opening price. Read more…

New Zealand Dollar (NZD)

Just like the Aussie, the Kiwi finished lower in yesterday’s trading thanks to broad dollar strength. NZD/USD finished the day at .8157, down 15 pips from its opening price. Read more…

Swiss Franc (CHF)

Pretty normal day for the Swissy, which just chilled with its homies at its crib. USD/CHF stuck within range and eventually closed at .9123, just 6 pips higher on the day. 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!