Daily Forex Fundamentals – October 16, 2012

What’s on the Economic Horizon

U.S. Inflation on the Rise?
German ZEW Economic Sentiment Report Due Today
U.K. Monthly CPI on Tap

U.S. Dollar (USD)

Could this be a sign that times are changing? Despite strong retail sales figures, higher yielding currencies were unable to take advantage of the Greenback, as EUR/USD closed just 6 pips higher at 1.2954, while Cable finished at 1.6071, 4 pips below its opening price. Read more…

Euro (EUR)

Not the best way to start the week, but eh, a win is a win, right? The euro scored a measly 8-pip win against the dollar yesterday when EUR/USD finished the New York session at 1.2954. Read more…

British Pound (GBP)

GBP/USD traded in an almost perfect “U” pattern yesterday as it fell during the Asian session but recovered nicely once the European trading session rolled along. It began the day at 1.6075 and closed the day barely changed at 1.6071. Read more…

Japanese Yen (JPY)

And the losing continues! For the fourth consecutive day, the yen dropped versus the euro and the pound, as the yen continues to struggle across the board. EUR/JPY rose 34 pips to finish at 101.92, while GBP/JPY ended at 126.44, up 32 pips on the day. Read more…

Canadian Dollar (CAD)

Without any top-tier economic report on tap from Canada, the Loonie was lost in the bear lair in yesterday’s trading. USD/CAD traded within Friday’s range before finishing the day at .9800, 15 pips above its opening price. Read more…

Australian Dollar (AUD)

The Aussie started the week off on a solid note, rising 38 pips versus the dollar to finish at 1.0237. Will the good times continue to roll or are the bears gearing up for another attack? Read more…

New Zealand Dollar (NZD)

When you fall down, you have to pick yourself back up and keep going! This is exactly what Kiwi did yesterday as it fell early in the Asian session but staged a magnificent performance during the U.S. session. The Kiwi opened at .8170, felt to an intraday low of .8138, and then closed the day at .8185. Read more…

Swiss Franc (CHF)

USD/CHF’s price action yesterday was a doozy! The pair rallied strongly during the Asian session due to broad dollar strength but quickly reversed its gains once the European trading session began. It closed the day at .9332, barely changed from its day open price at .9339. 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!