Daily Forex Fundamentals – November 16, 2012

What’s on the Economic Horizon

Euro zone data top expectations
U.K. retail sales disappoint forecasts
SNB Chairman Jordan to talk about monetary policy today

U.S. Dollar (USD)

The dollar’s scorecard in yesterday’s trading was as messy as Cyclopip’s face after a Sloppy Joe eating contest. It managed to end the day higher against the pound, Aussie, Kiwi, and the yen. However, it gave up ground to the euro, Swiss franc, and Loonie. Read more…

Euro (EUR)

Rise, EUR/USD, rise! Thanks to extremely positive data, the pair was able to climb once again and close the U.S. trading session higher than its day open price. The pair ended the day at 1.2774, up from 1.2746. Read more…

British Pound (GBP)

After dumping the pound for 6 days in a row, market bears took their foot off the pedal yesterday, allowing GBP/USD to end just 3 pips lower at 1.5851. Have sellers finally run out of steam? Read more…

Japanese Yen (JPY)

Ka-pow! The yen got kicked into the bear lair once again yesterday. USD/JPY tapped its 7-month high at 81.47 before closing 103 pips above its opening price at 81.20. Meanwhile, EUR/JPY was up at 103.73 by the end of the New York session after starting the day at 102.18. Read more…

Canadian Dollar (CAD)

For first time in three days, the Loonie was able to out-muscle the Greenback in the charts. USD/CAD, which had begun the day at 1.0031, closed the U.S. trading session with a respectable 14-pip gain. Read more…

Australian Dollar (AUD)

Wipe out! The Aussie posted its second consecutive loss to the dollar yesterday. AUD/USD finished the day 52 pips below its opening price at 1.0320 on disappointing data from the Australia. Read more…

New Zealand Dollar (NZD)

It looks like sellers are starting to back off the Kiwi! After dumping the comdoll heavily on Wednesday, they took it easy yesterday as NZD/USD only slipped 11 pips to .8094. Read more…

Swiss Franc (CHF)

Boy, is the Swissy on a roll or what! For the fourth straight day, it posted gains against the dollar as USD/CHF slipped another 20 pips to end at .9424. Will it sweep the dollar this week? 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!