Daily Forex Fundamentals – October 9, 2012

What’s on the Economic Horizon

Earnings Season is Here
European Finance Ministers Meet Today
U.K. Manufacturing Production on Tap

U.S. Dollar (USD)

Mixed results for the scrilla, which pounced on the weakness of the European currencies, but stumbled against the comdolls. EUR/USD dropped 56 pips to finish at 1.2971, while AUD/USD rallied 37 pips to end at 1.0196. Read more…

Euro (EUR)

That’s definitely not a good way to start the week! The euro got thrown into the bear lair in yesterday’s trading as risk aversion dominated market sentiment. It finished 56 pips lower against the dollar at 1.2971 and suffered an 88-pip loss to the yen at 101.61. Read more…

British Pound (GBP)

Blame yesterday’s big loss on Chancellor Osborne! After he spoke up, the markets dumped the pound, taking GBP/USD down to 1.6029, down 101 pips from its opening price. What in the world did he say?! Read more…

Japanese Yen (JPY)

With traders scaling back on their risky positions, the yen dominated yesterday’s trading scene. EUR/JPY dropped for the first time in 8 days, falling 88 pips to finish at 101.61. Meanwhile, GBP/JPY closed at 125.57, down a whopping 134 pips from its opening price. Read more…

Canadian Dollar (CAD)

The Loonie sure knows a thing or two about being sneaky! It was trading lower against the dollar for the most part of the day before stepping up its game in the New York session. USD/CAD dropped from its intraday high of .9802 to close the day at .9770. Read more…

Australian Dollar (AUD)

What better way to start the week than by closing in the green! Just like their comdoll siblings, the Aussie bulls came out in force yesterday, as they trampled all over the markets, as AUD/USD rose 37 pips to close at 1.0234. Read more…

New Zealand Dollar (NZD)

Though there wasn’t much action on NZD/USD yesterday, the Kiwi did manage to squeak by with a 22-pip win. The pair was a ghost town during the Tokyo and London sessions, but action picked up as the Kiwi staged a rally in the New York session to take the pair to .8193. Read more…

Swiss Franc (CHF)

The markets pushed and pulled the Swissy about yesterday, leading it to weaken against the dollar and strengthen against the euro. While USD/CHF rose 35 pips to .9332, EUR/CHF slipped down 8 pips to land at 1.2103. 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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