Daily Forex Fundamentals – November 28, 2012

What’s on the Economic Horizon

Beige Book Set to be Released Today
Mixed Results for Aussie Construction Work
SNB’s Jordan Set to Speak at Forum

U.S. Dollar (USD)

Let’s all give a forex high-five to the scrilla, which edged its way higher in yesterday’s trading matches. After hitting a high at 1.3009, EUR/USD dropped and finished at 1.2934, down 28 pips from its opening price. Meanwhile, AUD/USD closed 52 pips off its high to finish at 1.0448, marking a 10-pip loss for the day. Read more…

Euro (EUR)

Boy, oh boy! Is the euro in for trouble? Despite EU finance ministers finally coming up with a financial deal on Greece, the shared currency finished the day lower against most of its counterparts. EUR/USD ended the day at 1.2934 after opening at 1.2962. Meanwhile, EUR/JPY closed with a 23-pip loss at 106.27. Read more…

British Pound (GBP)

More of the same from the pound! After an entire day’s worth of trading, it ended practically unchanged against the dollar, finishing just 1 pip lower at 1.6017. When will GBP/USD give us something to work with?? Read more…

Japanese Yen (JPY)

Is this the start of a big run for the yen bulls? For the second day in a row, the yen came out on top, as a slight case of risk aversion swept through the markets. EUR/JPY closed at 106.27, down 23 pips from its opening price, while both GBP/JPY and USD/JPY remained unchanged at 131.61 and 82.17, respectively. Read more…

Canadian Dollar (CAD)

Just when everyone thought the Loonie was going to end the day with a win, the dollar stepped up its game and hustled some muscle! USD/CAD was steadily trading lower during the Tokyo and London sessions, tapping a low of .9906, before the pair surged in the New York session and finished the day 5 pips above its opening price at .9942. Read more…

Australian Dollar (AUD)

With no hard data lined up, the Aussie traded to the beat of risk sentiment yesterday. Unfortunately, risk aversion was the name of the game and AUD/USD closed with a small loss. After hitting as high as 1.0490, the pair fell and finished at 1.0448, down 10 pips from its opening price. Read more…

New Zealand Dollar (NZD)

This week is shaping up to be a bad one for the Kiwi. For the second day in a row, it marked losses against the Greenback, as NZD/USD slid 17 pips to .8203. Can it manage to stay above the .8200 handle? Read more…

Swiss Franc (CHF)

Traders finally put a stop to the Swissy’s 4-day winning streak as USD/CHF finally ended the day in the green. The pair traded quietly for the most part, rising gently in the London and New York sessions to finish 20 pips higher at .9308. 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!