Daily Forex Fundamentals – July 8, 2011

What’s on the Economic Horizon

U.S. NFP expected to print higher
U.K. PPI on tap today
Canada’s employment figures also scheduled today

U.S. Dollar (USD)

My, oh my, how the fates have turned for the Greenback! Yesterday the currency bulls did a 180-degree turn on the dollar when traders ditched the safe-haven for high-yielding paper. The dollar lost heavily against the Read more…

Euro (EUR)

Nothing like a rate hike to boost you up the charts! With the ECB hiking rates for the second time, the euro zoomed up the charts against all its major counterparts. EUR/USD found itself 44 pips higher at 1.4353, while EUR/JPY soared up the charts to finish at Read more…

British Pound (GBP)

Looks like sentiment towards the pound was a little too heavy, as the GBP pairs failed to benefit from the run of risk appetite yesterday. GBP/USD dropped for the third consecutive day, closing Read more…

Japanese Yen (JPY)

Move over safe-havens, the high-yielding currencies are back in the black! Though Japan clocked in better-than-expected economic reports yesterday, the yen was left in the dust as traders rode a wave of risk appetite. USD/JPY inched up by Read more…

Canadian Dollar (CAD)

The comdoll strikes back! Though Canada printed mixed economic reports yesterday, the wave of risk appetite in markets was enough to push USD/CAD to its 8-week low of .9569 before capping the day Read more…

Australian Dollar (AUD)

Mid-week reversal for the win! Okay, maybe not exactly mid-week. Positive reports from Australia and a wave of risk appetite in markets propelled currency bulls to load up on the Aussie, which boosted AUD/USD by a whopping Read more…

New Zealand Dollar (NZD)

Ain’t no stopping the Kiwi baby! Once again, NZD/USD soared, rising 72 pips to close at .8331, a new all-time high! Okay fine, it beat the old record by Read more…

Swiss Franc (CHF)

With risk appetite in full swing yesterday, the franc didn’t stand a chance. USD/CHF closed 52 pips higher at .8446, while EUR/CHF erased its losses from the day before and finished at 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!