Daily Forex Fundamentals – August 8, 2011

What’s on the Economic Horizon

Federal Reserve Expected to Keep Rates in 0% to .25% Range
Australia’s ANZ job ads fell by 0.7% in July
ECB watches Spain and Italy debt problems

U.S. Dollar (USD)

Didn’t I warn you about sentiment shifts? In a surprising turn of events, the dollar took a major hit over the weekend and lost against major currencies. The U.S. dollar index, which tracks the performance of the currency versus other majors, is currently Read more…

Euro (EUR)

The euro pulled off an R. Kelly move against the dollar last Friday as it bounced-bounced, bounced-bounced off support at the 1.4100 handle. It was able to pare some of its losses when it ended the week Read more…

British Pound (GBP)

Last Friday provided another green day for the pound bulls as better-than-expected reports from the U.K. mixed in with broad dollar weakness in markets. Cable ended up flying by Read more…

Japanese Yen (JPY)

What’s it going to be, yen traders? The yen’s price action was as mixed as Pipcrawler’s sock collection last Friday when risk aversion in markets played tug-o-pips with a bit of profit-taking ahead of the NFP report in the U.S. USD/JPY slipped by Read more…

Canadian Dollar (CAD)

Boing, boing! USD/CAD just bounced around the .9800 handle on Friday as the much-anticipated jobs report from Canada was released. Good thing Loonie bulls were able to Read more…

Australian Dollar (AUD)

Sorry bros, but not even a broad Greenback weakness can stop the steam of the Aussie bears! Unlike its comdoll buddies, the Aussie lost ground against the Greenback on continued risk aversion in markets. AUD/USD registered a Read more…

New Zealand Dollar (NZD)

Thanks to the combination of the U.S. debt graduate and risk appetite on the better-than-expected non-farm payrolls, NZD/USD was able to Read more…

Swiss Franc (CHF)

Why, thank you downgrade! Thanks to S&P credit rating downgrade of the U.S., traders flocked to the safety of the Swiss franc. USD/CHF is currently trading at 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!