Daily Forex Fundamentals – July 16, 2012

What’s on the Economic Horizon

U.S. Retail Sales on Deck
Bank of Canada Expected to Keep Rates Unchanged Tomorrow

U.S. Dollar (USD)

“Not today, not today,” cried the dollar bears last Friday as they were able to end the bull’s streak. The U.S. Dollar Index, which had made 3 consecutive winning daily candles, finally posted a losing day as it fell to 83.83 from 84.10. Read more…

Euro (EUR)

SCOOOOORE! The euro finally snuck some pips against its counterparts last Friday when traders shrugged off weak economic news from the markets. EUR/USD climbed by 37 pips, while EUR/JPY also enjoyed a nice 23-pip rally. What exactly made the currency bulls’ day? Read more…

British Pound (GBP)

Who ya callin’ a loser? The pound rallied by nearly 200 pips against the Greenback and pocketed more than a hundred pips against the Japanese yen last Friday, more than enough for both pairs to end the week in the green. What caused the rally and what are the odds of seeing another one this week? Read more…

Japanese Yen (JPY)

Due to the absence of market-moving events in Japan, the yen didn’t exhibit much volatility last Friday. USD/JPY, for instance, simply traded within a tight range within a 30-pip range and closed just 5 pips lower from its opening price. Read more…

Canadian Dollar (CAD)

Bad Chinese data? No problem! Like its comdoll buddies, the Loonie gained pips against the Greenback last Friday. USD/CAD fell by another 49 pips to 1.0146 after hitting an intraday high at 1.0204. No data was printed from Canada, so what spurred on the Loonie bulls? Read more…

Australian Dollar (AUD)

When there’s a will, there’s always a way. Thanks to the overall dollar weakness, the Aussie was able to reverse its losses from the day before on Friday. The Aussie closed the day at 1.0223, 83 pips higher from its opening price that day. Read more…

New Zealand Dollar (NZD)

Up, up, and away! The Kiwi soared by pips against the Greenback on Friday, allowing NZD/USD to end the week at . Will it be able to hold on to its gains this week? Read more…

Swiss Franc (CHF)

Thanks to weaker-than-expected U.S. economic data, the Swiss franc was able to recoup most of its losses to the Greenback for the past few days as USD/CHF slid close to its week open price of .9806 before the weekend. 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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