Daily Forex Fundamentals – November 30, 2011

What’s on the Economic Horizon
ADP non-farm employment report to show 131K increase in hiring
Canadian monthly GDP up by 0.3%?
ECOFIN meetings to discuss EFSF expansion and ECB role in bailouts

U.S. Dollar (USD)

Risk taking is still on, baby! Because of that, the Greenback chalked up another losing day as safe-haven flows eased and traders mustered enough courage to buy higher-yielding currencies. EUR/USD ended the day nearly 20 pips up from its 1.3310 open price while USD/JPY closed 14 pips below the 78.00 handle. Is it time for a midweek reversal though? Read more…

Euro (EUR)

What a topsy-turvy day for the euro! It looked like it was gonna lay the smackdown on the dollar early in the London session, as EUR/USD shot up to as high as 1.3443. But by the time the New York session rolled around, the euro lost its luster and EUR/USD gave back all its gains. By the end of the day, the pair had closed at 1.3329, up just 19 pips from its opening price. Read more…

British Pound (GBP)

Score another one for the pound! It followed up its gains on Monday with another awesome performance as GBP/USD climbed 106 pips to finish the day just above the 1.5600 handle. Can the pound make it three in a row today? Read more…

Japanese Yen (JPY)

It’s the revenge of the higher-yielders! The Japanese yen got clobbered by risk appetite and wound up losing against most of its major counterparts, except for the U.S. dollar. USD/JPY closed 10 pips below its 77.96 open price while EUR/JPY locked in a teeny tiny gain and ended at 103.78. Read more…

Canadian Dollar (CAD)

Make that back-to-back! The Canadian dollar continued its winning ways, as USD/CAD dropped another 51 pips to close at 1.0302. Will the Canadian dollar make it three for three, or will we see a mid-week reversal? Read more…

Australian Dollar (AUD)

Just when debt rating downgrades are being doled out here and there, Australia enjoyed a nice UPGRADE from rating agency Fitch. This was enough reason for AUD/USD to rally by more than 120 pips up from its .9901 open price. AUD/JPY also ended the day in the green as it closed 6 pips above the 78.00 handle. Read more…

New Zealand Dollar (NZD)

It’s on, baby! The Kiwi recorded its second win in a row against the Greenback as NZD/USD rallied 71 pips to close at .7620. And with how it started today, it looks like it’s on its way to extend its winning streak! Read more…

Swiss Franc (CHF)

And that makes it two for two! Once again, the Swissy recorded gains against the dollar and the euro as USD/CHF trickled down 33 pips to close at .9198 and EUR/CHF fell 26 pips to 1.2261. Will it remain unbeaten for the 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!