Daily Forex Fundamentals – September 13, 2012

What’s on the Economic Horizon
Fed to Pull QE3 Trigger?
SNB to Talk About EUR/CHF Peg?

U.S. Dollar (USD)

Are traders pricing in QE3? It sure seems that way, as the dollar’s been getting smacked around the past couple of days. The euro and pound edged higher, while the comdolls maintained their lead versus the Greenback. With the FOMC announcement just around the corner, what could be in store for us today? Read more…

Euro (EUR)

Up, up, and away the euro goes! The shared currency rallied against most of its counterparts yesterday. EUR/USD tapped a 4-month high against the dollar at 1.2938 before closing the day with a 34-pip win at 1.2892. Meanwhile, EUR/JPY ended the day higher at 100.36 after opening at 99.96. Read more…

British Pound (GBP)

With help from yesterday’s awesomely upbeat employment report, Cable racked up some more pips as it climbed from its opening price of 1.6070 to end the day at the 1.6100 handle. Will the pound continue to gain ground against the dollar today? Read more…

Japanese Yen (JPY)

With risk appetite improving yesterday, the yen was the biggest loser in yesterday’s trading wars. It fell against all its major counterparts, as GBP/JPY and EUR/JPY edged 41 pips and 40 pips higher to finish at 125.34 and 100.36, respectively. Read more…

Canadian Dollar (CAD)

Poor Loonie! Among the commodity currencies, it was the only one that scored a loss to the dollar in yesterday’s trading. USD/CAD rallied after it hit an intraday low at .9715, closing the day 34 pips above its opening price at .9766. Read more…

Australian Dollar (AUD)

After hitting as high as 1.0507, AUD/USD lost steam and eventually settled at 1.0456, up just 17 pips on the day. Could this be the end of the line for the Aussie bulls? Read more…

New Zealand Dollar (NZD)

NZD/USD stalled at the .8200 handle as it formed a doji on the daily chart. After opening at .8186, the pair topped out at .8238, only to come falling back down to .8191 where it ended the day. Have Kiwi bulls finally run out of steam? Read more…

Swiss Franc (CHF)

It seems the Swissy still can’t decide if it wants to head over to the bull camp or chill with the bears. It strengthened against the dollar as USD/CHF closed 11 pips lower at .9379 after tapping an intraday low of .9341. Meanwhile, EUR/CHF continued its climb as it finished 15 pips higher at 1.2091. Read more…

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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!