Every day, I will present to you my findings and daily commentaries on what recently happened in the economic arena, possible shifts in sentiment, economic events to watch out for, and their effects on currencies. This blog, however, is not an economic crystal ball. I am not a fortune teller - I will simply try to piece together some economic updates so I can provide you with my scholarly opinions and analysis on the markets for a ‘sneak preview’ on what lies ahead.
What's on the Economic Horizon
French Industrial Production on Deck
BOJ Interest Rate Decision on Friday
RBNZ Expect to Keep Rates Unchanged at 2.50%
U.S. Dollar (USD)
The dollar proved to be the champ of the forex market last Friday, thanks to risk aversion. The U.S. Dollar Index, which tracks the performance of the Greenback versus other major currencies, closed Friday at 82.98, 0.26 points higher than its opening level. Read more...
Euro (EUR)
Looks like the weekend couldn't come at a better time! After posting consistent gains throughout the week, the euro ended Friday on a sour note as it posted losses versus the dollar and the yen. But when I opened my charts earlier today, I saw the euro pairs gap up! What gives? Read more...
British Pound (GBP)
Down goes the pound! GBP/USD ended Friday'a trading 61 pips below its opening price at 1.5469. Meanwhile, GBP/JPY was down 83 pips at 122.78. Read more...
Japanese Yen (JPY)
Risk aversion reared its head again in the forex market last Friday, allowing the low-yielding yen to rally versus other major currencies. It was able to gain 80 pips over the euro and 84 pips over the pound. Read more...
Canadian Dollar (CAD)
What a crazy end to the week for the Loonie! After It looked like it was heading for new highs, USD/CAD came tumbling down late in Friday's New York session and eventually closed at 1.0270, 8 pips below its opening price. Read more...
Australian Dollar (AUD)
The Aussie, unlike other major currencies, was able to end up a winner last Friday. The Aussie's stellar fundamentals allowed it just shrug off risk aversion and rally across the board. AUD/USD, closed Friday at .9921, 21 pips higher from its opening price that day. Read more...
New Zealand Dollar (NZD)
After dropping almost 60 pips from its opening price during the Tokyo session, the Kiwi put its A-game on and started to rally. By the end of the day's trading, NZD/USD had settled at .7710, 28 pips above its opening price. Way to go, Kiwi! Read more...
Swiss Franc (CHF)
The Swiss franc lost its swag on Friday, giving up 50 pips to the dollar. USD/CHF traded higher almost immediately after opening at .9558. 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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