Daily Forex Fundamentals – November 14, 2011

What’s on the Economic Horizon

Japanese GDP Grows by 1.5% in Q3
Bye Bye, Berlusconi
Swiss PPI on Tap

U.S. Dollar (USD)

Rough day for the dollar last Friday night, as risk appetite helped higher yielding currencies run all over the Greenback. EUR/USD and GBP/USD both rose 151 pips to close at 1.3754 and 1.6079 respectively, while the comdolls all posted significant gains as well. Read more…

Euro (EUR)

Boy, did euro bulls party like it was 2012 on Friday! After dipping slightly below its opening price of 1.3603, EUR/USD rallied all the way up to its intraday high of 1.3796. At the end of the day’s trading, it was at 1.3754, 151 pips above where it opened. Read more…

British Pound (GBP)

Market sentiment was clearly much more positive last Friday as political instability in the euro zone area continue to ease. This gave risk appetite a chance to return to the markets, which helped the pound rally across the board. GBP/USD, for instance, closed the day with a significant 151-pip gain. Read more…

Japanese Yen (JPY)

Bank of Japan officials probably let out of a sigh of relief when they saw yen crosses rally a bit to the end the week after dropping on Wednesday. EUR/JPY closed above the 106.00 handle, after testing as low as 104.80, while GBP/JPY finished the week just below 124.00, well off its lows at 123.00. Read more…

Canadian Dollar (CAD)

Investors went loco for the Loonie as risk appetite picked up in Friday’s trading. USD/CAD tumbled from its intraday high of 1.0233 to end the day 61 pips below its opening price at 1.0115. Read more…

Australian Dollar (AUD)

Surf’s up mate! The Aussie rode a wave of risk appetite last Friday, joining its comdoll siblings in riding up the charts. By the end of the day, AUD/USD was at at 1.0285, marking a 143-pip gain. Read more…

New Zealand Dollar (NZD)

Just like other major currencies, the Kiwi was able to stage a magnificent rally versus the Greenback last Friday due to the market’s appetite for risk. NZD/USD ended the U.S. trading session at .7863, a respectable 101 pips higher from its opening price that day.
Read more…

Swiss Franc (CHF)

With the debt crisis concerns in euro zone easing, the Swissy found itself giving up ground to the euro for the second straight day last Friday. EUR/CHF ended the U.S. trading session at 1.2397, a solid 68 pips higher from its day open. 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!

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