Daily Forex Fundamentals – August 26, 2011

What’s on the Economic Horizon

Jackson Hole Symposium in Focus
U.K. Revised GDP Figures on Deck
Swiss KOF Economic Barometer Expected to Fall to 1.84 from 2.04

U.S. Dollar (USD)

With the moment of truth for the U.S. only hours away, it looks like traders are placing their bets on the scrilla. The dollar gained against most of its high-yielding counterparts with EUR/USD slipping by 34 pips to 1.4386 and GBP/USD falling by 89 pips to 1.6291. Read more…

Euro (EUR)

“Bad data? We don’t care,” exclaimed the bulls yesterday as they managed to keep the euro afloat in the charts despite a weak Gfk Consumer confidence survey. EUR/USD ended the U.S. trading session at 1.4386, merely 36 pips lower from its Asian session opening price. Read more…

British Pound (GBP)

And there goes another case of loose lips, sink pips! The pound once again lost to the dollar in yesterday’s trading as GBP/USD ended the day 87 pips below its opening price at 1.6292. Read more…

Japanese Yen (JPY)

Based on the yen’s price action, it looks like Japanese government officials deserve a pat on the back! The yen weakened in markets yesterday thanks to a bit of jawboning from Japanese officials. USD/JPY capped the day at 77.48, almost 50 pips above its open price. Read more…

Canadian Dollar (CAD)

The battle of the Loonie bulls and bears yesterday ended in a stalemate as USD/CAD closed the day barely changed. There was a lot of movement during the day but by the end of the U.S. trading session, USD/CAD was sitting at .9874, just 8 pips higher from its Asian session opening price. Read more…

Australian Dollar (AUD)

Nope, not today either! The Aussie bulls had to step back for the second day in a row yesterday when risk aversion continued to take a hold in markets. AUD/USD only rose to an intraday high of 1.0514 before it fell and capped the day 41 pips lower at 1.0434. Read more…

New Zealand Dollar (NZD)

Thanks to positive data, the Kiwi was off to a good start in yesterday’s trading, reaching an intraday high at .8330. However, it started to lose its hustle during the New York session, ending the day at .8267 with a 13-pip loss. Read more…

Swiss Franc (CHF)

Hmph! Data schmata! Despite a negative report, the Swissy was still able to end yesterday’s trading with a win against most of its counterparts. USD/CHF ended the day 26 pips lower at .7925, while EUR/CHF was down 63 pips for the day at 1.1401. 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 excellent trade ideas!