Article Highlights

  • Profit-taking after SNB shocker?
  • Japanese tertiary industry activity index up by 0.2% in Nov
  • Swiss retail sales and euro zone final CPI readings due
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It looks like forex traders are still busy buzzing about the SNB’s surprise announcement and figuring out how this could affect longer-term market movements. A bit of profit-taking was seen, as EUR/CHF recovered 3.19% so far and is trading back above parity while USD/CHF is looking at a 3.11% gain for the trading session.

Other major pairs calmed down after the bloodbath, with EUR/USD up by a mere 0.07% and GBP/USD looking at a 0.05% gain. USD/JPY is holding steady around 15 pips above the 116.00 major psychological mark while commodity currencies continued to climb. AUD/USD is enjoying a 0.33% gain so far and NZD/USD is up 0.38%.

The only data point released in today’s Asian trading session was Japan’s tertiary industry activity index for November, which showed a 0.2% uptick. Although this is slightly lower compared to the estimated 0.3% increase, it still marks a decent improvement from the previous month’s 0.1% dip.

Up ahead, the forex calendar shows that the euro and the franc might see a bit more volatility in the next few hours. The euro zone is set to print its final CPI readings for December and confirm that headline inflation is down 0.2% and that core inflation is up by 0.8%. As for Switzerland, the retail sales report is slated to show a 1.1% annualized increase for November, higher than the previous 0.3% rise.

U.S. Session Recap

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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