Daily Forex Fundamentals – October 25, 2012

What’s on the Economic Horizon
U.S. durable goods orders data to rebound in Sept
U.K. out of the recession?
RBNZ kept rates on hold

U.S. Dollar (USD)

Well, that was a dud, wasn’t it? The FOMC statement barely made waves across the dollar pairs yesterday as the Fed didn’t make any changes to monetary policy. EUR/USD tested the 1.3000 area briefly before closing at 1.2961 while USD/JPY stayed stuck below the 80.00 handle. Read more…

Euro (EUR)

Still no love for the euro! With yesterday’s disappointing economic reports giving traders plenty of reason to dump the euro, the shared currency found itself on the sell side of the equation once again. It lost 19 pips to the dollar, 16 pips to the yen, and 52 pips to the pound. Read more…

British Pound (GBP)

Not so fast, pound bears! The pound erased some of its intraweek losses against its counterparts yesterday when expectations strong U.K. data boosted motivated the currency bulls. Cable popped up by 80 pips while EUR/GBP plummeted by 82 pips. Booyah! Read more…

Japanese Yen (JPY)

You can’t win ‘em all, can you? Even though the Japanese yen was able to pocket some gains against the euro, it lost ground to the British pound and Australian dollar during yesterday’s trading. Meanwhile, USD/JPY remained stuck below the 80.00 mark as it moved sideways for almost the entire day. Read more…

Canadian Dollar (CAD)

The Loonie looked as though it was finally gonna bag some pips at the start of the day. But it finally gave way to selling pressure in the New York session as traders took USD/CAD from an intraday low of .9889 to end the day at .9949, up 23 pips from its opening price. Read more…

Australian Dollar (AUD)

Way to go, Aussie! After tumbling for the past four days, AUD/USD was able to break its losing streak and end in the green yesterday. The pair found support around the 1.0250 area, climbed to a high of 1.0367, then eventually closed at 1.0338. Will it be able to hold on to its gains today? Read more…

New Zealand Dollar (NZD)

What a coup by the Kiwi bulls! Thanks to positive comdoll data, NZD/USD capped the day with a nice 33-pip gain at .8151. So what exactly were the comdoll bulls so happy about? Read more…

Swiss Franc (CHF)

With no data from Switzerland yesterday, the franc had mixed performance against its counterparts. USD/CHF held steady with only a 5-pip gain while EUR/CHF dropped by 8 pips. Meanwhile GBP/CHF registered a 19-pip uptick. 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!

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