Daily Forex Fundamentals – September 10, 2012

What’s on the Economic Horizon

Fresh off the press: Japan’s final GDP
Sentix investor confidence index on tap
FOMC statement due this week

U.S. Dollar (USD)

Last Friday proved to be disastrous for dollar bulls as the American currency lost big time against its major counterparts. Once the markets got a look at the horrific NFP results, they sold the dollar off and pushed EUR/USD to settle 168 pips higher at 1.2805. Read more…

Euro (EUR)

Now that’s how you end the week with a bang! Thanks to optimism surrounding the ECB’s latest proposals, the euro continued to surge last Friday, marking 168-pip and 53-pip victories versus the dollar and yen respectively. Book it, baby! Read more…

British Pound (GBP)

Up, up, and away! GBP/USD soared after the U.S. released its NFP report last Friday as the pair broke above the 1.6000 major psychological resistance. GBP/USD reached a high of 1.6035 before it closed at 1.6008. Will it be able to hold on to its gains this week? Read more…

Japanese Yen (JPY)

While the yen took a few heavy blows from the euro, it dealt the dollar a harsh beating as well. EUR/JPY ended 53 pips higher at 100.23, just as USD/JPY slipped 63 pips to 78.27. Read more…

Canadian Dollar (CAD)

Chalk up another one for the Loonie! Thanks to contrasting jobs figures reports, the Canadian dollar drilled the greenback, as USD/CAD sank 45 pips lower to finish at .9783.
Read more…

Australian Dollar (AUD)

Simply amazing! The Aussie was able to undo over a week’s worth of losses in two days! AUD/USD posted its biggest rally in two months as it rose 104 pips to greet the weekend at 1.0397. Read more…

New Zealand Dollar (NZD)

Fly, Kiwi, fly! Thanks to the post-NFP U.S. dollar selloff we saw last Friday, NZD/USD managed to enjoy a strong rally and end the day in the green at .8123. What’s in store for the Kiwi this week? Read more…

Swiss Franc (CHF)

Finally some action on EUR/CHF! After breaking out of its slumber last Thursday, EUR/CHF followed up with a 100-pip rally from the 1.2050 area to the 1.2150 mark last Friday before closing slightly above the 1.2100 handle. USD/CHF, on the other hand, slid down the charts and closed at .9450. 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!