Daily Forex Fundamentals – August 28, 2012

What’s on the Economic Horizon

CB Consumer Confidence Survey Expected to Tick Slightly Lower
Gfk German Consumer Climate to Fall to 5.8 from 5.9

U.S. Dollar (USD)

Amid the very light economic calendar in yesterday’s trading session, the Greenback was able to come out victorious. It edged higher against most major currencies, rallying 13 pips versus the euro, 22 pips versus the pound, and 10 pips versus the yen. Can the Greenback continue its streak? Read more…

Euro (EUR)

Not today, boys! For the second trading day in a row the euro bears outmuscled the bulls as a disappointing German report got mixed in with risk aversion in markets. EUR/USD settled with a 15-pip drop after hitting an intraday high at 1.2537. Read more…

British Pound (GBP)

Where are all the pound bulls at? The currency sustained another loss against the dollar yesterday. GBP/USD closed the day 22 pips below its opening price at 1.5793. That extends the pound’s losing streak to three days! Read more…

Japanese Yen (JPY)

Due to the absence of economic catalysts, most of the U.K. in holiday, the yen was completely directionless yesterday. It traded mixed across the board, gaining slightly versus the euro and pound but losing against the dollar. Read more…

Canadian Dollar (CAD)

Back-to-back win, baby! With no major data released from Canada and the U.S., the Loonie traders traded on expectations for the week ahead. USD/CAD fell by another 10 pips yesterday as it finished at .9908. What’s in store for the oil-related comdoll today? Read more…

Australian Dollar (AUD)

Strike three! For the third straight day, the Aussie suffered the wrath of the Greenback bulls. AUD/USD was sold-off yesterday, falling to 1.0370 after it had opened the Asian session at 1.0416. Read more…

New Zealand Dollar (NZD)

The Kiwi just can’t get enough air! It failed to fly up the charts yesterday, scoring another loss against the dollar. NZD/USD ended the day at .8086 after opening at .8117. Read more…

Swiss Franc (CHF)

The franc joined its European counterparts in the losers’ bench yesterday. USD/CHF traded higher, after opening at .9599. By the end of the New York session, the franc had incurred an 11-pip loss at .9610. 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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