Daily Forex Fundamentals – August 25, 2011

What’s on the Economic Horizon

Jackson Hole symposium set to start
Swiss employment expected to stay flat
GFK German consumer climate – downside surprise?
RBA Glenn Stevens scheduled to speak

U.S. Dollar (USD)

Aaand the dollar strikes back! With a better-than-expected showing from durable goods orders, the American currency was able to end the day higher against all of its major counterparts, save for the Loonie. Read more…

Euro (EUR)

Mixed results for euro pairs, but for the most part, they all remained within range. EUR/USD traded within a range of 100 pips and closed 20 pips lower at 1.4421. Meanwhile, EUR/JPY edged higher late in the New York session to finish at 111.02, up 28 pips for the day. Read more…

British Pound (GBP)

Bears pulled The Creep on the pound and sent it tumbling down the charts despite the lack of any catalyst. GBP/USD ended the day at 1.6379 with a 123-pip loss after tapping its intraday high at 1.6536. Read more…

Japanese Yen (JPY)

Now that’s how you shrug off a downgrade! The yen practically yawned at Moody’s downgrade as it managed to edge higher against the British pound and the euro. Will it do the same today? Read more…

Canadian Dollar (CAD)

Once again, the Loonie did what it does best – range! USD/CAD traded within a tight range of 56 pips, eventually ending the day 12 pips lower at .9868. Read more…

Australian Dollar (AUD)

Another one bites the dust! The Aussie joined other high-yielding currencies and dropped against the U.S. dollar as weak data weighed it down. AUD/USD virtually never rose above its opening price and finished the day 45 pips lower at 1.0475. Read more…

New Zealand Dollar (NZD)

What a bummer! Despite a stellar trade balance report, the Kiwi ended the day 70 pips lower against the dollar at .8279 in yesterday’s trading. Read more…

Swiss Franc (CHF)

Whoa! Even the mighty Swissy was no match for the dollar in yesterday’s trading! USD/CHF closed higher for the third consecutive day in a row, ending the day 33 pips above its opening price at .7950. EUR/CHF also continued its uptrend, finding support at 1.1400 and closing at 1.1463. 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!