Daily Forex Fundamentals – November 12, 2012

What’s on the Economic Horizon

U.S. CPI, PPI, and Fed Meeting Minutes All Coming Out This Week
Eurogroup Meetings Begin Today
Japan’s Preliminary GDP Fails to Meet Expectations

U.S. Dollar (USD)

Thanks to a wide-reaching case of risk aversion, the dollar was able to reign supreme last Friday. It pummeled other major currencies, especially the European currencies like the euro and the pound. The U.S. dollar index, which began the day at 81.26, ended the week at 81.49. Read more…

Euro (EUR)

The euro’s price action was as mixed as the Avengers’ personalities last Friday as traders priced in euro zone reports and events ahead of the weekend. The common currency fell against the dollar and the yen, but gained against the pound and the franc. What’s up with that? Read more…

British Pound (GBP)

The pound was cruisin’ up the fast lane early on in Friday’s trading, tapping an intraday high at 1.6020 against the dollar, when the bears suddenly rained on its parade. GBP/USD then fell like a rock and closed the day with a 77-pip loss at 1.5903. Read more…

Japanese Yen (JPY)

Just like the safe haven U.S. dollar, the low-yielding Japanese yen was able to flex its muscles last Friday. It rallied versus other major currencies, gaining the most against the euro and the pound. EUR/JPY, which had opened at 101.20, had fell to a fresh one-month low before closing the day at 100.99. Meanwhile, GBP/JPY dropped to 126.35 from 126.85. Read more…

Canadian Dollar (CAD)

That was a close one! The Loonie held its ground against the Greenback last Friday with USD/CAD ending the day with only a 6-pip gain after it reached an intraday high 37 pips higher than its open price. Check out the three factors that helped the Loonie! Read more…

Australian Dollar (AUD)

Just like other commodity-based currencies, the high-yielding Australian dollar weakened versus the safe haven U.S. dollar last Friday. AUD/USD marked its third straight day of decline, falling to 1.0393 from 1.0412. Read more…

New Zealand Dollar (NZD)

Is there no one else?? After getting sold off aggressively early on in last week’s trading, NZD/USD continued to trade sideways on Friday. The pair just traded around the .8150 minor psychological handle before finishing the day 7 pips below is opening price at .8145. Are there no more Kiwi bears left? Read more…

Swiss Franc (CHF)

It looks like there’s just no stopping USD/CHF’s rise! With risk aversion still the dominant theme in Friday’s trading, the pair tapped a new 9-week high at .9500. It then finished the day 29 pips above its opening price at .9487. 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!