Daily Forex Fundamentals – July 25, 2011

What’s on the Economic Horizon

Australian PPI on tap today
New Zealand trade surplus to shrink?
U.K. mortgage approvals expected to rise

U.S. Dollar (USD)

Zzz… Price action on the dollar was about as exciting as watching paint dry! It seems the big moves on the dollar last Thursday had markets too exhausted to move on Friday as the dollar traded within tight ranges and ended the day hardly changed. Read more…

Euro (EUR)

After Thursday’s wild events, Friday was much more subdued for the euro. Euro pairs pretty much stayed in range, as a “selective default” didn’t exactly weigh down the shared currency. EUR/USD finished just 10 pips lower on the day, closing at 1.4368, while EUR/JPY finished at 112.70, down just 7 pips from its opening price. Read more…

British Pound (GBP)

It’s a stalemate, folks! After a day of scoring wins against its rivals, the British pound ended unchanged against the U.S. dollar and the Japanese yen on Friday. GBP/USD closed right at the 1.6300 handle while GPB/JPY landed at 127.85. Can the pound push for more gains this week? Read more…

Japanese Yen (JPY)

Even the yen wasn’t spared from the snoozefest last Friday! Yen pairs were practically dead as USD/JPY ended the day unchanged and EUR/JPY dropped just 7 pips. Read more…

Canadian Dollar (CAD)

The Canadian dollar bookmarked the week with a loss, as inflation data came in surprisingly week. USD/CAD bounced off key support at .9450, and closed 37 pips higher for the day at .9454. Could this be a potential bottom for the Loonie? Read more…

Australian Dollar (AUD)

Aussie chillin’ at a new two-month high! After finally breaking above resistance at 1.0800 last Thursday, AUD/USD took a well-deserved breather on Friday, rising just 17 pips for the day. Read more…

New Zealand Dollar (NZD)

Did you catch that Kiwi move last Friday? NZD/USD reached another new record high! The pair rallied past the .8600 level that day and topped at .8675 before closing at .8643. Will we see more highs from the Kiwi this week? Read more…

Swiss Franc (CHF)

Ouch! The Swissy took a hit from both the U.S. dollar and the euro last Friday, as USD/CHF closed 10 pips up from its .8169 open price while EUR/CHF landed 2 pips above the 1.1750 level. These pairs gapped down over the weekend though, so let’s find out whether the Swissy could keep it going. Read more…

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!

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>