Daily Forex Fundamentals – September 25, 2012

What’s on the Economic Horizon
Germany, Spain, and Greece Weigh on the Euro
Canadian Retail Sales for August Seen at 0.2%
Minutes Reiterate the BOJ’s Dovishness

U.S. Dollar (USD)

Put your hands up in the ayer for the dollar! Its performance in yesterday was pretty stellar, scoring wins against all of its counterparts save for the yen. EUR/USD closed the day 44 pips below its opening price at 1.2927 while AUD/USD ended the day at 1.0417 after opening at 1.0417. Read more…

Euro (EUR)

It seems that the tide has truly turned for EUR/USD as it once again failed to defend itself against the bears yesterday. From its opening price at 1.2971, the pair had dropped to its lowest level in 12 days before it managed to pull back slightly to close the U.S. trading session at 1.2927. Read more…

British Pound (GBP)

With no major reports scheduled from the U.K. yesterday, the pound traders looked to risk sentiment for direction. The pound capped the day lower against its low-yielding counterparts, but it scored a couple of pips against the euro as EUR/GBP fell by 21 pips to .7971. Read more…

Japanese Yen (JPY)

There is just no stopping the yen! Despite the BOJ’s dovishness, it continued to out perform most of its counterparts. USD/JPY ended yesterday’s trading 29 pips below its opening price at 77.85. Meanwhile, EUR/JPY was down 72 pips from the day open at 100.63. Read more…

Canadian Dollar (CAD)

The Loonie traded in a perfect “U” pattern yesterday as it had fallen early in the day but recovered all of its losses before it closed for the day. USD/CAD opened and closed the day at .9766. Read more…

Australian Dollar (AUD)

Talk about a wipeout! With risk aversion dominating market sentiment, the Aussie wasn’t able to hang ten in the charts yesterday. AUD/USD dropped to its intraday low of 1.0386 almost as soon as it opened. By the New York session close, the pair had settled at 1.0417, 32 pips below its opening price. Read more…

New Zealand Dollar (NZD)

Geronimooo!!! Though New Zealand’s economic cupboard was as empty as Cyclopip’s plates after dinner, NZD/USD managed to drop by a whopping 79 pips to .8210. What gives? Read more…

Swiss Franc (CHF)

Guess who’s in the mixed price action bandwagon yesterday? The franc is! Since no major report moved the markets, the franc’s price action depended on its counterparts. USD/CHF rose by 24 pips on risk aversion, while EUR/CHF slipped by 11 pips to 1.2101. 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!