Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies. This blog, however, is not an economic crystal ball. I am not a fortune teller - I will simply try to piece together some economic updates so I can provide you with my scholarly opinions and analysis on the markets for a ‘sneak preview’ on what lies ahead.
What's on the Economic Horizon
U.S. Retail Sales on Tap Today
U.K. Scheduled to Print its Inflation Numbers
NAB Business Confidence Showed Upside Surprise
U.S. Dollar (USD)
With no major data out from the U.S., the Greenback's price action was as mixed as the performers in the closing ceremony of the 2012 London Olympics. USD/CHF ended up with a 36-pip fall, but USD/JPY clocked in an 8-pip rise. What gives? Read more...
Euro (EUR)
Believe it or not, the euro gained ground against its major counterparts yesterday as EUR/USD closed at 1.2338 while EUR/JPY ended the day at 96.67. Did we see any positive developments from the euro zone that boosted the euro? Read more...
British Pound (GBP)
The pound both dealt and took damage yesterday as it gained ground against the dollar but weakened against the euro. What'll happen to it now that the Olympics are over? Read more...
Japanese Yen (JPY)
Thanks to a downside surprise in Japan's GDP data, the yen received a triple roundhouse kick against its counterparts yesterday. EUR/JPY climbed by 46 pips, while GBP/JPY also rose to 122.90. What has gotten the yen bears so giddy? Read more...
Canadian Dollar (CAD)
Ho humm... Thanks to the lack of hard-hitting reports yesterday, USD/CAD was stuck in a tight range just above .9900 for almost an entire day. During the U.S. session, the pair broke slightly higher and reached a high of .9941 before closing at .9926. Read more...
Australian Dollar (AUD)
Ooomph! After stalling near the 1.0600 area last week, AUD/USD finally gave in and dropped by 47 pips to 1.0513. What the heck happened in the Land Down Under? Read more...
New Zealand Dollar (NZD)
There she goes, there she goes again! After Friday's relief rally, the Kiwi returned to its losing ways and chalked up another loss against the Greenback to start the week. It lost 30 pips to the American currency as NZD/USD slid sharply in the New York session to end the day at .8085. Read more...
Swiss Franc (CHF)
No stalemate this time! The Swissy was all over the dollar yesterday as it snatched 31 pips away from its American counterpart. Will USD/CHF continue falling today? 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!
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