Daily Forex Fundamentals – July 15, 2011

What’s on the Economic Horizon

U.S. CPI report scheduled today
New Zealand’s Impressive GDP Raises Interest Rate Hike Expectations

U.S. Dollar (USD)

With Bernanke throwing a curveball with his statements and the U.S. data printing mixed results, it’s no wonder the dollar bulls and bears were in a frenzy! The Greenback ended the day mixed against its major counterparts with USD/JPY Read more…

Euro (EUR)

The euro had a topsy-turvy day yesterday as it tried to hold on to its recent gains against the Greenback and the Japanese yen. EUR/USD sank below the 1.4200 major psychological handle and closed at 1.4131 while EUR/JPY managed to end 15 pips below the 112.00 mark. Could the euro be Read more…

British Pound (GBP)

What a snoozer! Due to the lack of economic reports from the U.K., Cable remained by its session highs and lows. It bottomed out many times at the 1.6100 major psychological level and found resistance at Read more…

Japanese Yen (JPY)

After days of gaining against other major currencies, the yen finally decided to take a break and give up a little bit of ground. At the end of the U.S. trading session, EUR/JPY was sitting at 111.72, a respectable 76 pips higher from its open price. Meanwhile, GBP/JPY Read more…

Canadian Dollar (CAD)

USD/CAD moved sideways yesterday as the pair struggled to break below the .9550 minor psychological support. At the end of the day, USD/CAD settled 5 pips below the .9600 mark. Will the Loonie be able to find a Read more…

Australian Dollar (AUD)

Just like yesterday, Bernanke’s statements ruled the price action of the dollar pairs. Too bad it’s the complete opposite of yesterday’s trading! Positive statements from Bernanke cooled down the dollar bears, pushing AUD/USD Read more…

New Zealand Dollar (NZD)

Thanks to a very impressive GDP report, the Kiwi was able to make significant advances versus other major currencies yesterday. NZD/USD, after opening the Asian trading session at .8361, rose as high as Read more…

Swiss Franc (CHF)

s that profit taking I see? Why, it seems so! Yesterday, the Swissy retraced some of its gains against the dollar due to some positive data from the U.S. After marking a new all-time low at .8085 USD/CHF rose and Read more…

Bonnie and Clyde, peanut butter and jelly, Justin Bieber and his hair. Some things just go well together.

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Head on to Big Pippin’s Daily Chart Art for some pip-locking technical setups!