Daily Forex Fundamentals – September 11, 2012

What’s on the Economic Horizon
U.S. Trade Balance Figures on Tap
Canada To Post Trade Deficit?
Australian Business Confidence Dips Lower

U.S. Dollar (USD)

Call it a comeback Monday for the scrilla baby! With no hard data on tap, we saw some profit taking take place, with the dollar posting decent gains versus the euro and Australian dollar. EUR/USD fell 52 pips finish at 1.2759, while AUD/USD closed at 1.0336, 29 pips below its opening price. Read more…

Euro (EUR)

Not so fast, little one! After rallying by more than a hundred pips last Friday, EUR/USD erased some of its recent gains as it closed at 1.2759, 52 pips down from its 1.2811 open price. EUR/JPY also ended the day in the red as it retreated from the 100.00 handle and closed at 99.84. Read more…

British Pound (GBP)

You didn’t think the pound would just keep rising, did you? After posting three straight days of gains, it was bound to pull back! GBP/USD started the week by gapping up over the weekend, but it spent the rest of the day trading below the week open. From its opening price of 1.6017, it slipped back below the 1.6000 handle to post a 28-pip loss. Read more…

Japanese Yen (JPY)

With a slight wave of risk aversion hitting the market, the yen got a nice boost and finished ahead of the euro and pound in yesterday’s trading matches. EUR/JPY dropped 38 pips to end at 99.84, while GBP/JPY finished 23 pips lower at 125.12. Read more…

Canadian Dollar (CAD)

The Loonie may have slammed on the brakes after its strong rally last Friday but the Canadian currency still managed to outpace the Greenback by a small margin during yesterday’s trading. USD/CAD closed at .9775, 5 pips below its .9780 open price. Read more…

Australian Dollar (AUD)

Just like other higher yielding currencies, the Australian dollar started the week off on the wrong foot. AUD/USD slipped 29 pips lower to finish at 1.0336. Will we see more of the same from the Aussie today? Read more…

New Zealand Dollar (NZD)

If only the Kiwi had started this week as strongly as it had ended last week! NZD/USD began with a 16-pip gap down over the weekend as it opened at .8107. From there, things only got worse as sellers took the pair another 20 pips down to .8087. Read more…

Swiss Franc (CHF)

The Swissy couldn’t make up its mind yesterday as it went one way against the euro and the other way against the dollar. EUR/CHF backed away from the 1.2100 handle as it settled 8 pips below its opening price at 1.2074 after reaching an intraday high of 1.2120. Meanwhile, USD/CHF recorded a 28-pip gain as it ended the day at .9463. 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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