Daily Forex Fundamentals – November 2, 2012

What’s on the Economic Horizon

NFP Forecast: 123,000
Spanish Manufacturing PMI on Tap
Canadian Employment Figures Due Today

U.S. Dollar (USD)

With more and more New York traders crawling back into the workplace and thanks to good economic data, the Greenback was able to pare some of its losses from earlier this week. EUR/USD fell 21 pips to finish at 1.2941 while GBP/USD closed 14 pips lower to close at 1.6124. Read more…

Euro (EUR)

Euro sellers were anything but saints on All Saints day as they showed no mercy on the charts yesterday. Despite the lack of economic reports, traders dumped the euro, taking EUR/USD 21 pips down from its opening price to end at 1.2941. Read more…

British Pound (GBP)

What a letdown! It looked as though GBP/USD was going to finish the day above 1.6150, but sellers dragged the pair back down in the New York session, forcing it to close at 1.6124, down 14 pips on the day. Read more…

Japanese Yen (JPY)

Somewhere deep inside the confines of the Bank of Japan, policy makers are dropping sake bombs left and right. After all, USD/JPY rose for the 4th day in a row, and 12th time in the past 15 trading days, as the pair closed 6 pips higher at 80.22. Read more…

Canadian Dollar (CAD)

Make that three in a row! Once again, USD/CAD closed lower, finishing 20 pips below its opening price at .9968. Will we see another victory for the Loonie bulls today or will we see USD/CAD make another run for parity? Read more…

Australian Dollar (AUD)

It may not be putting up spectacular gains day to day, but it sure is consistent! For the third day in a row, the Aussie gained against the Greenback as AUD/USD ticked up another 19 pips to end at 1.0399. Will its slow and steady pace with the race this week? Read more…

New Zealand Dollar (NZD)

Just like its comdoll siblings, the Kiwi was quite impressive in yesterday’s trading matches. NZD/USD broke out of its consolidation, rising 43 pips to finish the day at .8267. The question is, can the bulls continue their good fortune? Read more…

Swiss Franc (CHF)

Halloween may be over, but that didn’t stop the Swissy from pulling out its Dr. Jekyll and Mr. Hyde getup! The currency put up a mixed performance yesterday as it snatched 10 pips from the euro but gave away 6 pips to the dollar. What will it give us today? 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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