Daily Forex Fundamentals – July 23, 2012

What’s on the Economic Horizon

Will Spanish Concerns Continue to Weigh on Euro?
Safe Haven Dollar Reigns Supreme
Australian PPI Prints Higher Than Expected

U.S. Dollar (USD)

Now that’s how you end the week in style! With risk aversion back with a vengeance, the dollar trumped all its major counter parts last Friday. EUR/USD tested as low as 1.2150, while GBP/USD closed over 100 pips lower to finish at 1.5615. Read more…

Euro (EUR)

EUR/USD reached new yearly lows last Friday as a fresh wave of euro zone debt troubles rocked the markets. After closing above the 1.2150 level last week, the pair gapped down over the weekend. Is EUR/USD on its way to 1.2000? Read more…

British Pound (GBP)

Judging by the pound’s sorry performance against the dollar last Friday, it seems as though pound bulls have lost their groove! Seller took GBP/USD down over 100 pips to force the pair to end the week just above the 1.5600 handle. What gives? Read more…

Japanese Yen (JPY)

Someone call the Bank of Japan, cause the yen’s on fire baby! Thanks to a nice run of risk aversion, the yen tore up the euro and pound last Friday, with both EUR/JPY and GBP/JPY dropping over 100 pips. Read more…

Canadian Dollar (CAD)

Double whammy for the Loonie! Weak Canadian economic data combined with a drop in oil prices left the Canadian dollar unable to sustain its gains against the Greenback last Friday. What happened and can we expect another Loonie selloff this week? Read more…

Australian Dollar (AUD)

Stop right there, thank you very much…Whoa, whoa, whoa. Apologies for the odd choice of music, Happy Pip’s been messin’ around with my sound system again! In any case, the Spice Girls song is actually pretty descriptive of the Aussie’s trading last Friday, which dropped 50 pips to close at 1.0378, ending its 5-day winning streak. Read more…

New Zealand Dollar (NZD)

I don’t think I need to elaborate on what happened to the Kiwi after last Friday’s big risk-off sell-off. Y’all should know by now that it took a massive hit! From its opening price of .8029, NZD/USD retreated to .7967 without ever looking back. Will sellers continue taking this pair lower? Read more…

Swiss Franc (CHF)

Even the Swissy wasn’t spared from the dollar’s mighty rally last Friday! It didn’t stand a chance against the dollar’s advances as it weakened from the very start of the day, falling almost 100 pips before the New York session came to a close. 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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