Daily Forex Fundamentals – September 19, 2011

What’s on the Economic Horizon

No Change in NZ Westpac Consumer Sentiment Index
FOMC Statement to Dictate the Dollar’s Price Action This Week?
ECOFIN Meeting Didn’t Address Debt Concerns

U.S. Dollar (USD)

The dollar’s scorecard for Friday’s trading was as mixed as reviews for the Breaking Dawn trailer. Although it lost against the comdolls, it was able to bring sexy back against the rest of its counterparts. EUR/USD was down 91 pips from its opening price at 1.3795, USD/JPY was up 20 pips at 76.84, and GBP/USD closed just a pip shy of its opening price at 1.5798. Read more…

Euro (EUR)

There goes the euro’s clean sheet! After rising four straight days against the Greenback, the shared currency took a trip downtown as renewed concern about European debt drove EUR/USD 89 pips lower to 1.3796. Read more…

British Pound (GBP)

After last week’s price action led to GBP/USD trading within a range of just over 100 pips, could we be in for an breakout soon? Read on to find out whether or not there is any economic data lined up that could bust GBP/USD out of its recent consolidation! Read more…

Japanese Yen (JPY)

Without any economic report on tap, the yen’s fate on the charts last Friday was pretty much dictated by market sentiment. USD/JPY opened at what would be its intraday low at 76.64 and ended the day 20 pips higher at 76.84. On the other hand, it was able to bag pips out of the euro when EUR/JPY closed 40 pips below its opening price at 106.01. Read more…

Canadian Dollar (CAD)

The Loonie finished the week on a high note as risk appetite and profit-taking on the Greenback worked to its advantage. As a result, USD/CAD posted its second daily slide in a row, falling from .9840 to .9791. Will it continue to fall this week? Read more…

Australian Dollar (AUD)

Aussie bulls chugged pips on Friday’s trading like tequila shots during happy hour. After tapping an intraday low of 1.0295, AUD/USD traded higher and ended the day 49 pips above its opening price at 1.0369. Read more…

New Zealand Dollar (NZD)

It sure was a good day to be a comdoll! Just like its comdoll siblings, the New Zealand dollar trampled all over the dollar last Friday, as the Kiwi closed 67 pips higher at .8296. Read more…

Swiss Franc (CHF)

Sweep denied! After closing lower four days in a row, USD/CHF couldn’t complete a sweep and ending up giving up some of its gains last Friday. The pair closed at .8763, marking a 73-pip gain on the day. 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!