Daily Forex Fundamentals – November 15, 2012

What’s on the Economic Horizon

U.K. retail sales growth seen at -0.1%
Euro zone CPI and GDP on tap
U.S. to unload another set of top tier reports

U.S. Dollar (USD)

Boy, do American central bankers know how to pull off a surprise! The minutes of the last FOMC meeting revealed that policymakers are leaning towards implementing more easing measures next year. You can bet that that was enough to send the dollar lower against some of its counterparts! Read more…

Euro (EUR)

Way to go, little one! The euro managed to score double wins against the Greenback and the yen yesterday, despite the gloom and doom in the markets. EUR/USD closed roughly 40 pips up from its 1.2705 open price while EUR/JPY ended 18 pips above the 102.00 handle. Read more…

British Pound (GBP)

Are those fresh 10-week lows I see on GBP/USD? Why, yes they are! No thanks to the dovish tone of the BOE’s quarterly inflation report, GBP/USD was sold off heavily yesterday. It started the day at 1.5874, dropped to its lowest level in 10 weeks at 1.5839, and then closed the U.S. trading session at 1.5854. Read more…

Japanese Yen (JPY)

What a very painful Wednesday it turned out to be for the yen! The yen sold-off sharply yesterday as Prime Minister Noda indicated that he would dissolve the lower house of the Parliament on Friday. USD/JPY rose to 80.17 from 79.40 while EUR/JPY soared to 102.18 from 100.89. Read more…

Canadian Dollar (CAD)

The Loonie lost ground to the Greenback for the second day in a row as USD/CAD closed significantly above parity. The pair started the day at 1.0014, jumped to a high of 1.0035, before it closed at 1.0031. Can the Loonie bounce back today? Read more…

Australian Dollar (AUD)

After putting up small gains on Monday and Tuesday, AUD/USD slipped sharply yesterday, undoing all of its earlier progress. Bummer, dude! Sellers had allowed the pair to rise in the first half of the day, but then they took control of the market in the New York session, forcing the pair to close 56 pips lower at 1.0382. Read more…

New Zealand Dollar (NZD)

Due to the terrible, terrible retail sales data from New Zealand, the Kiwi bears’ spirits were shattered yesterday. This resulted in a strong sell-off in NZD/USD as it fell to its lowest level since September 11. The pair began the Asian trading session at .8201, dropped like a rock to .8087, and then recovered slightly to end the day at .8105. Read more…

Swiss Franc (CHF)

While the other major European currencies suffered the wrath of the Greenback, the Swissy was actually able to hold steady and even post some respectable gains! USD/CHF started the day at .9474 and then tumbled to close the U.S. trading session at .9452. 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!