Daily Forex Fundamentals – October 13, 2011

What’s on the Economic Horizon

U.S. Trade Balance Seen To Have Widened in August
U.K. Trade Balance Report Expected To Print a Deficit of 8.9B GBP
Australian Employment Change Report Prints More Than Twice the Forecasts
Swiss PPI To Show First Monthly Increase in 4 months

U.S. Dollar (USD)

It seems like the dollar still hasn’t found its mojo yet with risk appetite continuing to dominate market sentiment. It scored losses against most of its higher-yielding counterparts, with EUR/USD closing 112 pips higher at 1.3792 and GBP/USD up 141 pips at 1.5756 at the day’s close. Read more…

Euro (EUR)

No midweek reversal for the euro! For the third straight day, it soared up the charts as the markets’ strong risk appetite lifted the shared currency. Positive developments in Slovakia helped fuel demand for the euro, which gained 112 pips against the dollar and 180 pips against the yen. Read more…

British Pound (GBP)

Now that’s what you call a rally! Despite mixed employment figures, the pound rode a massive wave of risk appetite and set new highs versus the dollar and yen. GBP/USD rose 141 pips to finish at 1.5756, while GBP/JPY closed at 121.85, up 217 pips from its opening price. Read more…

Japanese Yen (JPY)

With investors still giddy over higher-yielding currencies like six-year-olds on a sugar high, the yen got shoved off to the side despite positive reports from Japan. Curse you risk appetite! USD/JPY ended the day 69 pips above its opening price at 77.34. Meanwhile, EUR/JPY was up 181 pips from where it opened at 106.66 by the day’s close. Read more…

Canadian Dollar (CAD)

Parity’s not so far away anymore! The Loonie chalked up major gains against the dollar, pushing USD/CAD down from 1.0281 to 1.0173 as risk appetite spurred demand for the comdoll. Will the Loonie put up another big win today? Read more…

Australian Dollar (AUD)

Shabam! Aussie’s cruisin’ above parity again! Thanks to risk appetite, the comdoll was able to end the day 165 pips higher at 1.0159 against the dollar from its opening price. Holler! Read more…

New Zealand Dollar (NZD)

Winner winner, Kiwi dinner! The New Zealand dollar dominated the charts like the blackjack team from MIT owned Vegas, as NZD/USD double down and closed at .7959, up 217 pips from its lows of the day! Read more…

Swiss Franc (CHF)

Uh-oh, the franc’s back at it again! For the second time in three days, the franc posted some decent gains versus the dollar, as USD/CHF dropped 105 pips to close at .8953. Will we hear some SNB rumblings once again? 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!