Daily Forex Fundamentals – November 17, 2011

What’s on the Economic Horizon

Fitch Warning Sends the Euro Lower
U.S. Consumer Prices Decline in October
BOJ To Increase Stimulus in December?
U.K. Jobs Report Prints Lower Than Expected

U.S. Dollar (USD)

Just like my soon-to-be-girlfriend J. Lo and Marc Anthony, bulls reunited with the dollar on the charts in yesterday’s trading. EUR/USD ended the day 54 pips below its opening price at 1.3476 while AUD/USD was down 89 pips at 1.0088 by the end of the day’s trading. Read more…

Euro (EUR)

Well, there goes the euro again. For the third straight day, the euro lost the battle in the foreign exchange and ends the day lower versus the dollar yesterday. EUR/USD ended the U.S. trading session at 1.3476, 54 pips lower from its opening price that day. Read more…

British Pound (GBP)

The pound bears partied for another day yesterday as risk aversion in the markets got mixed in with the U.K’s weak economic data. GBP/USD capped the day with a 79-pip loss at 1.5738, while Guppy also took a 76-pip hit at 121.19. Read more…

Japanese Yen (JPY)

The yen continued to power through the charts like a boss despite pessimistic comments from the BOJ. USD/JPY ended the day 10 pips below its opening price at 77.00, while EUR/JPY was down 55 pips at the day’s close at 103.77. Read more…

Canadian Dollar (CAD)

Yesterday turned out to be another losing day for the Loonie as risk aversion continued to loom in the markets. It seems that the overall uncertainty regarding euro zone’s debt situation has yet to abate, which has led to losses in risk-related currencies like the comdoll Loonie. USD/CAD, which began the day at 1.0208, closed the U.S. trading session 23 pips higher. Read more…

Australian Dollar (AUD)

And just when Aussie bulls thought they were in for a win as AUD/USD bounced from its intraday low of 1.0060, the wave of risk aversion came rushing in and wiped them out. The pair failed to stay above the 1.0150 psychological handle and traded lower, eventually ending the day 89 pips below its opening price at 1.0088. Read more…

New Zealand Dollar (NZD)

When risk aversion strikes the markets, you just know that the Kiwi is in for a fall! Like its other comdoll buddies, NZD/USD showed the risk aversion that hovered over the markets yesterday. The pair only tipped an intraday high of .7724 before it finished the day with a 62-pip loss at .7645. Read more…

Swiss Franc (CHF)

Risk aversion? No problem! The franc managed to hold steady against most of its major counterparts yesterday despite the currency’s low-yielding status in a risk-averse market environment. Demand for the low-yielding dollar boosted USD/CHF by 34 pips to .9189, while the EUR/CHF held steady near its open price. 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!