Daily Forex Fundamentals – November 30, 2012

What’s on the Economic Horizon

King: “U.K. banks need more capital”
Conflicting remarks on U.S. fiscal cliff
Bond yields lower in Italian and Spanish auctions

U.S. Dollar (USD)

The dollar’s scorecard in yesterday’s trading was as mixed as a bag of nuts. While it managed to end the day with a win against the yen, Aussie, and Kiwi, it scored losses against its European counterparts and the Loonie. So what shook the dollar on the charts? Read more…

Euro (EUR)

Thanks to positive German data and lower peripheral bond yields, the currency bulls bought the euro like there was no tomorrow. EUR/USD tested the 1.3000 handle once again, while EUR/JPY enjoyed a nice 60-pip rally. Read more…

British Pound (GBP)

Who needs strong economic data when risk appetite has yo back? The pound chalked up another positive day against its counterparts yesterday despite the release of weak U.K. data. What’s up with that?! Read more…

Japanese Yen (JPY)

Ka-pow! The yen got kicked to the curb once again in yesterday’s trading. EUR/JPY finished the day higher at 106.54 after opening at 105.92. Meanwhile, USD/JPY ended with a 21-pip gain at 82.12. Read more…

Canadian Dollar (CAD)

Boring! Despite tier-2 data from Canada, we didn’t really see much action from the Loonie on the charts yesterday. USD/CAD traded within a mere 28-pip range before it finished the day just ONE pip below its opening price at .9924. Read more…

Australian Dollar (AUD)

Wipeout! After kicking the dollar’s butt on Wednesday, the Aussie failed to impress in yesterday’s trading. AUD/USD traded lower almost as soon as it opened at 1.0476, ending the day at 1.0434. Read more…

New Zealand Dollar (NZD)

The Kiwi bulls and bears had a pretty close tug-o-pips yesterday when risk sentiment got jumbled with New Zelaand’s data. NZD/USD tapped a high above .8250 before it dropped like a rock and capped the day at .8228. Read more…

Swiss Franc (CHF)

Just when we thought that the franc is in for another losing day, risk aversion settled in the markets and boosted the low-yielding currency. USD/CHF slipped by 27 pips while GBP/CHF also fell by 21 pips. 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!