Daily Forex Fundamentals – March 5, 2012

What’s on the Economic Horizon

ISM Non-Manufacturing PMI And Factory Orders On Tap
EZ Retail Sales Seen At 0.0%
U.K. Services PMI To Come In At 55.0?

U.S. Dollar (USD)

And the dollar ends the week with a sweep! European currencies, comdolls, and even the mighty yen gave up pips as the Greenback brought sexy back in Friday’s trading. Read more…

Euro (EUR)

The euro suffered another defeat last Friday as Euro zone finance ministers decided to withhold a little over half of Greece’s 130 billion EUR bailout fund. EUR/USD ended the day 1.3205, 101 pips lower from its opening price during the Asian trading session. Read more…

British Pound (GBP)

Despite a better-than-expected economic report, Cable capped Friday with a ridiculous 112-pip loss at 1.5838. The pound showed nice dojis against its other counterparts though, with EUR/GBP closing with only a 5-pip loss. Read more…

Japanese Yen (JPY)

Dang it! It looks like not even positive inflation reports could bring the yen’s swagger back. On Friday, it scored losses against both the euro and the dollar. EUR/JPY ended the day 9 pips above its opening price at 108.01. Meanwhile, the yen gave up 69 pips to the dollar as USD/JPY closed at 81.80. Read more…

Canadian Dollar (CAD)

All good things must come to an end. last Friday, the Loonie snapped its 4-day wining streak against the Greenback as risk aversion once again hit the markets. The Loonie ended the U.S. trading session with a 28-pip loss against the safe haven Greenback. Read more…

Australian Dollar (AUD)

Unlike Justin Beiber who had a PDA-filled day, the Aussie didn’t get any lovin’ from traders in Friday’s trading. AUD/USD fell from an intraday high of 1.0818 to close the day at 1.0732, 65 pips below its opening price. Read more…

New Zealand Dollar (NZD)

When comdolls are falling, you just know that Kiwi bears will want to get a piece of the action! Thanks to risk aversion in markets and a disappointing report from New Zealand, NZD/USD dropped by 93 pips last Friday, closing the week at .8289. Read more…

Swiss Franc (CHF)

Despite a risk-averse market environment last Friday, the low-yielding franc managed to register losses against the dollar and the euro. USD/CHF rocketed by 75 pips to .9138 while EUR/CHF also inched 7 pips higher to 1.2066. 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!