Daily Forex Fundamentals – November 13, 2012

What’s on the Economic Horizon

China’s trade numbers boost the comdolls
U.K.’s CPI to print at 2.3%?
New Zealand retail sales due today

U.S. Dollar (USD)

The dollar’s price action was as mixed as a bag of jelly beans yesterday as the lack of U.S. data pushed traders to trade on risk sentiment. EUR/USD inched 8 pips higher while USD/CHF slipped by 13 pips. Read more…

Euro (EUR)

The euro is off to a good start! After scoring three consecutive daily losses against the dollar and the yen, the shared currency was finally able to put an end to its losing streaks. Both EUR/USD and EUR/JPY finished the day 8 pips above their opening prices at 1.2713 and 101.02, respectively. Boo yeah! Read more…

British Pound (GBP)

If I were to sum up Cable’s price action yesterday in one word, it would be “range.” Due to the absence of market-moving events and U.S. traders out celebrating Veterans Day, the pair simply moved sideways the entire day, finding resistance at 1.5916 and support at 1.5864. Read more…

Japanese Yen (JPY)

Looks like fundamentals traders lost the round yesterday! Despite the weak data from Japan, the yen posted gains against most of its counterparts. Guppy fell by 15 pips while USD/JPY also slipped by 3 pips. What the heck were the yen traders thinking?! Read more…

Canadian Dollar (CAD)

P-p-party at parity! With banks in the U.S. and Canada closed for Veterans Day, the Loonie spent most of yesterday’s trading around the major 1.0000 handle against the dollar. It did, however, manage to finish the day with a 10-pip win at .9992. Read more…

Australian Dollar (AUD)

Surf’s up, pipsters! The Aussie broke its losing streak yesterday thanks to positive data from China. AUD/USD even reached an intraday high at 1.0441 before it ended the day 64 pips higher than its open price. Booyah! Read more…

New Zealand Dollar (NZD)

Climb, Kiwi, Climb! Thanks to the better-than-expected Chinese trade balance, the Kiwi was still able to make its way higher versus the safe haven Greenback yesterday. The NZD/USD pair began the day at .8145 but ended the U.S. trading session with a respectable 34-pip gain at .8179. Read more…

Swiss Franc (CHF)

Booooooooooooring! The lack of economic catalysts kept the Swissy from exhibiting volatility yesterday. USD/CHF simply moved within a 50-pip horizontal channel the entire day, with the upper boundary of the range located just below the .9500 handle and the lower boundary at .9450. 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!