Daily Forex Fundamentals – August 15, 2011

What’s on the Economic Horizon?

Will the RBA Minutes Hint Rate Cuts?
U.S. Consumer Sentiment Plunge To A 30-Year Low
Japan Q2 2011 GDP Report Show 0.3% Contraction

U.S. Dollar (USD)

The dollar’s currency hiney got whooped by most of its counterparts last Friday. It lost 21 pips to the euro when EUR/USD closed at 1.4250 and 57 pips to the pound as GBP/USD ended the week at 1.6279. Read more…

Euro (EUR)

The euro may not have gained much against the dollar, but it did a hell of a job against the Swiss franc! It simply shrugged off last Friday’s weak euro zone data and pushed EUR/CHF up 221 pips to close above 1.1000. Now THAT’S gangsta! Read more…

British Pound (GBP)

With no economic reports released from the U.K., the pound was swept along the risk appetite train on Friday as the currency bulls pushed high-yielding currencies up the charts. GBP/USD capped the day with a 58-pip gain while GBP/CHF was also able to bag a whopping 279 pips (no, it’s not a typo)! Read more…

Japanese Yen (JPY)

Save for the dollar, the yen lost its joust for pips against all its other major counterparts. USD/JPY ended the day 5 pips below its opening price at 76.81. On the other hand, EUR/JPY closed at 109.46 after opening at 109.34 and GBP/JPY settled at 125.04 with a 31-pip gain. Read more…

Canadian Dollar (CAD)

The Canadian dollar took a slow and steady slide down the charts last Friday as uncertainty gripped the markets. With the U.S. economy on shaky ground, the Canadian dollar couldn’t lift off, and so USD/CAD stepped up 24 pips to .9907. Read more…

Australian Dollar (AUD)

Up, up, here we go! As risk appetite picked up in Friday’s trading, Aussie bulls hustled some muscle to end Friday’s trading with a gain! AUD/USD closed 20 pips above its opening price at 1.0353. Read more…

New Zealand Dollar (NZD)

Score another one for the comdoll! After slipping to a low at .8179, NZD/USD bounced by 145 pips and actually capped the week at .8324! There were no news reports out from New Zealand, so what’s up with the big move? Read more…

Swiss Franc (CHF)

That’s 2-0 in favor of the franc bears! For the second day in a row the franc got clobbered on the charts last Friday on another round of risk appetite in markets. USD/CHF tacked on another 144-pip gain at .7775, while EUR/CHF also rose by 221 pips to 1.1080. 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!