Daily Forex Fundamentals – October 30, 2012

What’s on the Economic Horizon

BOJ to roll out another 10 trillion JPY of asset purchases?
Spanish GDP and German unemployment data on tap

U.S. Dollar (USD)

Will you look at that! Rather than shying away from the dollar in light of Hurricane Sandy, the markets flocked towards it as safe haven flows benefited the American currency. After an entire day’s worth of trading, it had managed to snatch 48 pips away from the euro and steal 81 pips from the pound. Read more…

Euro (EUR)

Make that five in a row! Once again, the euro stumbled across the charts like a drunk frat boy, as debt-related concerns weighed down the shared currency. EUR/USD fell 48 pips to finish at 1.2902, its lowest closing price in two weeks. Read more…

British Pound (GBP)

That is NOT how you wanna start off the week! The pound continued its misery from Friday, as it dropped another 81 pips versus the dollar, leaving GBP/USD to finish the day at 1.6033. Will the pound’s troubles continue or will we see a small pullback today? Read more…

Japanese Yen (JPY)

Risk aversion had the markets going nuts for the Japanese yen, lifting it against its higher-yielding counterparts. At the end of the day, it had gained 15 pips against the euro and 37 pips versus the pound. Read more…

Canadian Dollar (CAD)

The Loonie succumbed to overall Greenback strength, as USD/CAD climbed for the second consecutive trading day. USD/CAD rose 31 pips to finish at 1.0008, marking the first time in nearly three months that the pair has finished trading above parity. Read more…

Australian Dollar (AUD)

The streak ends at three! With risk aversion creeping back into the markets, the Aussie couldn’t help but let a few pips slip through its fingers, ending its 3-day winning streak against the Greenback. When all was said and done, AUD/USD settled 33 pips lower at 1.0332. Read more…

New Zealand Dollar (NZD)

The Kiwi had a poor start the the week as risk aversion snuffed demand for the high-yielding currency. NZD/USD spent little time trading above its opening price, and at the end of the New York session, it closed 32 pips lower at .8190. Read more…

Swiss Franc (CHF)

Ay, ay, ay! Without any economic reports from Switzerland, the franc was left at the mercy of market sentiment in yesterday’s trading. Unfortunately for the currency, risk aversion sparked by Europe’s woes dictated price action. 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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