Daily Forex Fundamentals – July 10, 2012

What’s on the Economic Horizon

Fed Officials Hint at More QE?
U.K. Manufacturing Production On Tap
ECOFIN Meetings Start Today

U.S. Dollar (USD)

Party’s over, boys! With no major data on the docket yesterday, the Greenback pared its gains against some of its counterparts. EUR/USD got a 60-pip breather at 1.2315, while USD/CHF also slid by 52 pips to .9751. What rained on the scrilla’s parade? Read more…

Euro (EUR)

Amid rising European bond yields and negative data, the euro bulls still managed to edge out most of their counterparts and push the euro to end yesterday’s trading higher. Talk about being stubborn, huh? EUR/USD closed 60 pips above its opening price at 1.2315. Meanwhile, EUR/JPY was up 42 pips at 98.00. Read more…

British Pound (GBP)

When there’s a will, there’s always a way! Despite gapping down to start the week, the pound managed to slowly edge higher throughout the day. GBP/USD closed the U.S. trading session at 1.5475, 57 pips higher from its opening price. Read more…

Japanese Yen (JPY)

The yen was one of the losers in pipsville yesterday as bad data from Japan got mixed with profit-taking in markets. EUR/JPY and Guppy both inched 42 pips higher, while USD/JPY held steady with only a 4-pip slip. Will the yen turn its luck around today? Read more…

Canadian Dollar (CAD)

Unlike its comdoll homies, the Loonie got lucky yesterday and managed to sneak a win against the dollar. USD/CAD consolidated around the 1.0200 handle for the most part of the day, before closing 4 pips below its opening price at 1.0194. Read more…

Australian Dollar (AUD)

hew! The Aussie bears hit the pause button yesterday as AUD/USD recovered from an intraday low of 1.0154 to end the day at 1.0203. Here’s why Australia’s data yesterday had nothing to do with the Aussie’s price action. Read more…

New Zealand Dollar (NZD)

Up and down the Kiwi went, but after 24 whole hours, it just ended up where it began! Due to the absence of market moving events, the Kiwi simply ranged the entire day and closed the U.S. trading session just 6 pips lower from its opening price that day. Read more…

Swiss Franc (CHF)

Thanks to the positive labor report, the Swissy was able to hold its ground against the safe haven dollar yesterday. USD/CHF, which had begun the day at .9803, closed the U.S. trading session 52 pips lower at .9751. 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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