Daily Forex Fundamentals – June 29, 2011

What’s on the Economic Horizon?

Greek Parliament to vote on austerity package today
Canadian inflation slated to tick lower
U.S. pending home sales to increase?
KOF economic barometer on deck

U.S. Dollar (USD)

Risk appetite up, dollar appetite down! Except against the yen, the dollar was sold off against all its major counterparts during yesterday’s trading. Are we witnessing a momentous shift in risk sentiment? Read more…

Euro (EUR)

Back to back, baby! For the 2nd day in a row, the euro jumped up the charts, even as the markets wait for the Greek Parliament vote. EUR/USD managed to gain 84 pips on the day, closing at 1.4364. Meanwhile, EUR/JPY tore up the charts, finishing 102 pips higher at 116.52. Read more…

British Pound (GBP)

Make that two in a row! The pound ended another day higher than the Greenback as GBP/USD closed 14 pips up from its 1.5980 open price. Guppy also bagged a win as it closed 25 pips below the 130.00 major psychological level. Are these signs of a reversal or are they mere retracements? Read more…

Japanese Yen (JPY)

Risk appetite dealt the yen a massive blow, and boy did it fall hard! Even with Japan’s retail sales report coming in better than expected, the yen found no love as it lost to all its major counterparts. How much further can we expect it to fall? Read more…

Canadian Dollar (CAD)

No data was released from Canada yesterday, but with risk appetite back in vogue, the Canadian dollar ended up on top. USD/CAD followed up Monday’s non-action by diving 39 pips deep to close at .9827. Read more…

Australian Dollar (AUD)

Up, up, and awaaay! The Aussie was one of yesterday’s biggest gainers as risk appetite launched its skyward. Will we get a repeat performance today? Read more…

New Zealand Dollar (NZD)

Up, up, here we go! The Kiwi may have been off to a weak start during the Asian session but it managed to stage a strong rally during the U.S. session and end the day 18 pips above the .8100 handle. Will it be able to hold on to its gains today? Read more…

Swiss Franc (CHF)

I guess you can’t have ’em all, can you? The Swissy may have ended the day higher against the U.S. dollar but it caved to euro strength. USD/CHF reached a low of .8276 and closed at .8322 while EUR/CHF closed at 1.1953. Read more…

Batman and Robin, bacon and eggs, 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!