Daily Forex Fundamentals – July 30, 2012

What’s on the Economic Horizon

Japan CPI Raises Deflationary Concerns
Spanish GDP On Tap
U.S. GDP Top Forecasts

U.S. Dollar (USD)

Pip-party? What party? Dollar bulls missed out on the pip-filled action on Friday as risk appetite kicked in. EUR/USD ended the week with a 13-pip gain for the day at 1.2300. Meanwhile, GBP/USD rallied to finish Friday 32 pips above its opening price at 1.5724. Read more…

Euro (EUR)

After EUR/USD’s meteoric rise on Thursday, the pair found itself trading within a tight range for the majority of Friday. The pair consolidated the entire Asian and morning European trading sessions and then rose slightly during the U.S. session. EUR/USD closed the day at 1.2300, just 13 pips higher from its opening price that day. Read more…

British Pound (GBP)

Two in a row, baby! The pound bulls charged happily last Friday, and no, it’s not because they saw the “Queen” jump from a helicopter in the 2012 Olympics opening ceremony. Cable rose by another 32 pips, while Guppy took a 73-pip hike. Booyah! Read more…

Japanese Yen (JPY)

Boy, did the yen have a bad Friday. It scored losses to all of its major counterparts as risk appetite lingered in the markets and disappointing data came out from Japan. USD/JPY closed the day 30 pips above its opening price at 78.51 while EUR/JPY finished at 96.56 after opening at 96.09. Read more…

Canadian Dollar (CAD)

1… 2… 3! Last Friday, USD/CAD fell for the third straight day in a row as oil prices continue to climb higher. Speculation that the Fed would ease soon also added downward pressure to USD/CAD. The pair, which had begun the day at 1.0096, closed the U.S. trading session at 51 pips lower at 1.0045. Read more…

Australian Dollar (AUD)

Despite the lack of economic reports, the Aussie rallied to its 2-month highs against the dollar, like a sir! Before it finished Friday’s trading with a 74-pip gain at 1.0473, it peaked at 1.0487. Read more…

New Zealand Dollar (NZD)

Score another one for the Kiwi! Like its other comdoll buddies, the Kiwi enjoyed a nice rally last Friday despite the lack of data in New Zealand. NZD/USD climbed by another 67 pips to .8092 after falling to an intraday low of .7991. So what made the Kiwi bulls giddy? Read more…

Swiss Franc (CHF)

Not so fast, franc bulls! USD/CHF might have dipped to an intraday low of .9695 last Friday, but the franc bears soon attacked after a U.S. data boosted the Greenback. Can you guess the Swiss data that might have boosted the franc early in the day? 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!