Daily Forex Fundamentals – July 13, 2012

What’s on the Economic Horizon
Chinese GDP showed weaker growth in Q2
Italian 10-year bond auction scheduled today
U.S. preliminary consumer sentiment to improve this month?

U.S. Dollar (USD)

When risk aversion is here, the U.S. dollar is the king of the hill! The Greenback raked in gains against most of its major counterparts yesterday as rate cuts from all over the globe triggered a strong safe-haven rally. Will the U.S. dollar be able to hold on to its gains? Read more…

Euro (EUR)

If you think EUR/USD’s suffering is over, then think again! The pair tapped yet another 2-year low yesterday as global growth concerns continued to dominate the market. EUR/USD, which had started the day at 1.2243, found itself sitting miserably at 1.2204 by the end of the U.S. trading session. Read more…

British Pound (GBP)

Better call your cable guy, because Cable is down for the third day in a row! Okay, that was a corny one, but it’s true nonetheless! GBP/USD fell for the third consecutive day yesterday, clocking in a 68-pip loss after hitting an intraday low at 1.5393. What gives? Read more…

Japanese Yen (JPY)

Boo yah! The Japanese yen ended up higher against all of its major counterparts yesterday as the BOJ decided against further stimulus for Japan. USD/JPY spiked to a high of 79.96 then closed at 79.31 while EUR/JPY closed 21 pips below the 97.00 handle. Read more…

Canadian Dollar (CAD)

Yesterday, the Loonie turned out to be one of the few currencies that was able to stand up to the strength of the might Greenback. After giving up more than 70 pips to the Greenback early in the London session, the Loonie fought back and actually closed the New York trading session with a small but respectable 12-pip gain. Read more…

Australian Dollar (AUD)

The Australian dollar got wiped out during yesterday’s wave of risk aversion, pushing AUD/USD to an intraday low of 1.0100 and dragging AUD/JPY closer to the 80.00 handle. Which reports caused the Aussie to go down under? Read more…

New Zealand Dollar (NZD)

With no data posted in New Zealand yesterday, Kiwi joined its cousin Aussie on a trip down the charts. NZD/USD dropped to its .7861 intraday low before the Kiwi bulls managed to contain its losses to only 63 pips. Why did Kiwi track the Aussie’s price action? Read more…

Swiss Franc (CHF)

Not so fast, franc bulls! Just when everyone thought that Swissy is in for a reversal, the franc bears launched another attack and pushed USD/CHF to its new one-year high at .9840. 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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