Daily Forex Fundamentals – November 9, 2012

What’s on the Economic Horizon

ECB’s rate decision fueled risk aversion
China to release CPI, industrial production, and retail sales
U.S. UoM consumer sentiment due today

U.S. Dollar (USD)

The dollar bulls partied in the streets yesterday as risk aversion continued to grip the markets. USD/JPY missed the memo though, and dropped 51 pips from its open price. So what exactly pushed the Greenback higher? Read more…

Euro (EUR)

Ka-pow! Bears delivered a multi-punch combo to the euro in yesterday’s trading. EUR/USD finished the day lower at 1.2746 after opening at 1.2770. Meanwhile, EUR/JPY ended the day with an 82-pip loss at 101.30. Read more…

British Pound (GBP)

GBP/USD’s price action yesterday was as crazy as a loon! At first, the pair consolidated within a tight range. And then, just when the European trading session opened, the pair broke out to the downside and forged fresh 2-week lows. But that wasn’t the end of it! When the BOE announcement came, traders suddenly changed moods and decided to buy the pair up, allowing it to close near its opening level that day. Read more…

Japanese Yen (JPY)

Weak economic data? No problem! The yen triple roundhouse kicked its counterparts yesterday as investors turned to “safe havens” amid the risk aversion in the markets. USD/JPY fell by 51 pips, EUR/JPY dropped by 80 pips, and GBP/JPY 87 pips. What the heck happened?! Read more…

Canadian Dollar (CAD)

The Loonie had to settle in the losers’ bench yesterday despite a positive trade balance report from Canada. USD/CAD closed just above parity after opening at .9965. Boo! Read more…

Australian Dollar (AUD)

The Aussie bulls and bears were in a fierce round of tug-o-pips yesterday as risk aversion battled with better-than-expected Australian data. AUD/USD finished the day 3 pips lower than its open price after tipping an intraday high at 1.0444. Read more…

New Zealand Dollar (NZD)

Booooooooooooooooring! Due to the absence of market-moving events, the Kiwi simply traded sideways yesterday. It began the day at .9449 and ended the U.S. trading session barely changed at .9458. Read more…

Swiss Franc (CHF)

Thursday turned out to be a directionless day for USD/CHF. After opening the day at .9449, the pair bounced around a relatively tight 42-pip range before closing the U.S. trading session at .9458. 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!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>