Daily Forex Fundamentals – October 18, 2012

What’s on the Economic Horizon

China Releases GDP and other Major Reports
U.K. Retail Sales Due Today

U.S. Dollar (USD)

There’s no stopping the dollar bears! Thanks to continued risk appetite in the markets, the Greenback was stuck in hostile territory yesterday. EUR/USD jumped by another 71 pips while USD/CHF fell by 41 pips. What motivated the dollar bears this time? Read more…

Euro (EUR)

Awww yeah! Six for six, baby! The euro extended its gains against the dollar in yesterday’s trading. EUR/USD rallied almost immediately after the day started at 1.3051 and finished 71 pips higher at 1.3122. Read more…

British Pound (GBP)

Risk appetite. These were the two words that propelled GBP/USD to a fresh 9-day high yesterday. THe pair, which began the day at 1.6116, had risen as high as 1.6179 before it closed the U.S. trading session at 1.6147. Read more…

Japanese Yen (JPY)

The yen got in the loser bandwagon yesterday as the low-yielding currencies took a fast track down the charts. EUR/JPY climbed by another 65 pips yesterday, while GBP/JPY inched 36 pips higher than its open price. Read more…

Canadian Dollar (CAD)

The Loonie definitely had a good day yesterday. Thanks to the pick up in risk appetite, it was able to pare all of the losses it incurred earlier on in the week against the dollar. USD/CAD dropped from its opening price of .9867 to close the day at .9780. Read more…

Australian Dollar (AUD)

That’s how you get off your lows! The Aussie bulls showed off against their comdoll buddies yesterday when they boosted AUD/USD by a whopping 107 pips higher than its open price. Is it because Australia printed a strong report? Read more…

New Zealand Dollar (NZD)

Despite having absolutely nothing on its economic calendar, the Kiwi proved to be one of the best performing currencies yesterday. Risk appetite was the name of the game, allowing the Kiwi to gain a solid 80 pips over the safe haven Greenback. Read more…

Swiss Franc (CHF)

The Swiss franc moved in two distinct waves yesterday. During the Asian session, the currency dominated, thanks to the leftover optimism from the news that Moody’s reaffirmed Spain’s Baa3 credit rating. 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!