Daily Forex Fundamentals – August 10, 2011

What’s on the Economic Horizon?

Fed decides to keep interest rates until mid 2013
BOE inflation report, Mervyn King speech due today

U.S. Dollar (USD)

Did the FOMC statement released yesterday save the day? Not for the Greenback, it didn’t! USD/CHF was dragged to even fresher lows at .7070, while EUR/USD Read more…

Euro (EUR)

Euro pairs were off to a weak start during the Asian and London sessions but managed to squeeze in a few gains during the last few hours of the New York session. EUR/USD closed more than Read more…

British Pound (GBP)

Due to the social unrest in the streets of the U.K., Cable took a hit in yesterday’s trading session. Cable, after it had opened the day at 1.6341, traded as low as 1.6176 before recuperating its losses slightly to end the Read more…

Japanese Yen (JPY)

Yen bulls attaaaack! Thanks to dollar aversion and Japan’s better-than-expected economic data, the yen was able to continue its winning streak against its major counterparts. USD/JPY dropped by another Read more…

Canadian Dollar (CAD)

Parity! USD/CAD just hit the 1.0000 handle after a strong rally yesterday, but that major resistance level held quite well. Let’s take a look at Read more…

Australian Dollar (AUD)

Thank you FOMC! After dropping to an intraday low of .9928, AUD/USD was able to take advantage of the risk-friendly FOMC statement released yesterday. As a result, it rebounded all the way to Read more…

New Zealand Dollar (NZD)

After its huge losses on Monday, the Kiwi decided to step up its game and take advantage of the very bearish FOMC statement yesterday. NZD/USD closed the U.S. trading session at Read more…

Swiss Franc (CHF)

There’s no stopping the Swissy bulls! It appears that traders couldn’t care less about the threat of currency intervention from the Swiss National Bank (SNB) as they decided to just 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!