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
U.S. New Home Sales on Tap
EU Summit Starts This Week
U.S. Dollar (USD)
Break time! Last Friday's lack of major data in the U.S. inspired the dollar bulls to take a breather from their push last Thursday. The Greenback capped the day unchanged against its major counterparts with EUR/USD closing only 15 pips higher than its open price. Read more...
Euro (EUR)
EUR/USD struggled to hold on to the 1.2550 minor psychological handle on Friday before ending the day in the green and closing at 1.2562. EUR/JPY also had its share of gains as it ended at 101.02, 28 pips above its 100.74 open price. Can the euro hold on to its recent gains this week? Read more...
British Pound (GBP)
After Thursday's big losses, the pound was able to hold its ground against the Greenback, as GBP/USD ended the day almost unchanged at 1.5583 on Friday. Will its descent continue this week? Read more...
Japanese Yen (JPY)
The yen weakened slightly against its major counterparts last Friday as hopes of an agreement of euro zone officials stabilized risk aversion. USD/JPY inched 13 pips higher while EUR/JPY snuck in a 72-pip gain. What reports are set to come out from Japan this week? Read more...
Canadian Dollar (CAD)
USD/CAD consolidated below the 1.0300 major psychological resistance for almost an entire day last Friday before it broke down and eventually closed at 1.0246. The pair gapped up over the weekend as it opened at 1.0267. Aside from a potential gap fill, what else is in store for the Loonie this week? Read more...
Australian Dollar (AUD)
With no economic data on tap last Friday, the Aussie was able to pare its losses against the Greenback. AUD/USD rose by 40 pips after hitting an intraday high at 1.0078. What other factors spurred on the Aussie bulls? Read more...
New Zealand Dollar (NZD)
As if someone had pressed "CTRL + Z," NZD/USD undid some of its losses from Thursday, climbing 56 pips on Friday to greet the weekend at .7910. Will risk appetite drive this pair higher? Read more...
Swiss Franc (CHF)
The Swissy must've been gassed after its big drop on Thursday... because it hardly moved on Friday! USD/CHF ended just 13 pips below its daily opening price to enter the weekend at .9560. 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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