Daily Forex Fundamentals – July 4, 2011

What’s on the Economic Horizon
U.S. Traders Off For July
Will Switzerland’s Retail Sales report give the Swissy swag?
EUR: Investor Confidence and PPI Report on Tap
RBA Interest Rate Decision Due Tomorrow

U.S. Dollar (USD)

And the losing streak continues! Once again, the dollar found itself with the short end of the forex trading stick, as investors continued to park their money in higher yielding currencies. EUR/USD made it clean sweep, as it rose 26 pips to finish at 1.4528 while GBP/USD recovered its losses from the day before to end 22 pips higher at 1.6071. Read more…

Euro (EUR)

And that’s five for five! Despite the lack of high-caliber reports, the euro was able to close the week with a clean streak against the dollar as it ended Friday’s trading 26 pips higher from its opening price at 1.4528. Boo yeah! Read more…

British Pound (GBP)

The pound bobbed its head to the beat of risk sentiment last Friday, as it edged higher against the dollar and yen. Cable managed to close 22 pips higher at 1.6071, while Guppy erased most of its losses from the day before to finish at 129.87, up 67 pips on the day. Read more…

Japanese Yen (JPY)

Churn em and burn em baby! The yen crosses continued their hot streaks, as EUR/JPY, GBP/JPY, AUD/JPY and CAD/JPY all rose last Friday. Could we see more of the same this week? Read more…

Canadian Dollar (CAD)

Like a bar of Twix to a toddler with a sweet tooth, the Loonie seemed totally irresistible in Friday’s trading to investors. After tapping an intraday high of .9652, USD/CAD rallied to close at its 7-week low at .9585. Read more…

Australian Dollar (AUD)

Aussie! Aussie! Aussie! The bulls were out in full force last week, as risk sentiment boosted the Australian dollar up the charts. After testing the 1.0400 handle early last week, AUD/USD rose all the way up to nearly test 1.0800. The pair eventually closed 1.0782, marking a 300 pip advance up the charts! Read more…

New Zealand Dollar (NZD)

Just like my uber crush Maria Sharapova who lost the Wimbledon title to Petra Kvitova, the Kiwi choked in its performance against the dollar on the final day of last week’s trading. NZD/USD rallied to an intra-week high of .8319 but it ended Friday’s trading 7 pips lower from its opening price at .8278. Read more…

Swiss Franc (CHF)

Aha! It seems like the Swissy lost touch with its inner Mick Jagger on Friday as it scored losses to both the dollar and the euro. USD/CHF ended the day 81 pips higher from its opening price at .8489 while EUR/CHF closed at 1.2333 after starting the day at 1.2193. Read more…

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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!