Daily Forex Fundamentals – June 30, 2011

What’s on the Economic Horizon

Greek Parliament Passes Austerity Package: What’s Next?
Weekly Jobless Claims and Chicago PMI on Tap
U.K. Housing Prices Increased by 0.1% in June
Canadian Monthly GDP seen at -0.1%

U.S. Dollar (USD)

Bon voyage monsieur dollar! Once again, the dollar got kicked to the curb, as traders put their money in higher yielding assets. The comdolls all slashed and burned, as they all posted significant gains versus the dollar. Meanwhile, EUR/USD rose a solid 65 pips to end the day at 1.4429. Read more…

Euro (EUR)

What a day for the euro! EUR/USD was able to rally to a high of 1.4450 while EUR/JPY closed 65 pips above the 116.00 handle when the Greek Parliament approved the austerity plans for their country. Phew! Read more…

British Pound (GBP)

My bad… I meant make that three in a row! For the third straight time, the pound surged against its American counterpart as buyers ignored the mixed feedback on the U.K. economy. GBP/USD posted its largest rise in two weeks, climbing 67 pips in yesterday’s trading. Read more…

Japanese Yen (JPY)

Thanks to improved risk appetite, the yen was dumped like a freckly, four-eyed 16-year old boy a day before his first dance (sorry Forex Gump). The yen lost against all its major counterparts, as traders decided that it was worth getting their hands on higher yielding assets. Read more…

Canadian Dollar (CAD)

Did you see that USD/CAD dive yesterday? That was exactly 120 pips high! The pair opened at .9827 and dropped all the way down to close at .9707 when Canada printed strong inflation reports. Read on to find out how these reports turned out. Read more…

Australian Dollar (AUD)

When the Aussie is on, it is ON! Riding a sweet wave of risk appetite, AUD/USD boogied up the charts, rising a solid 126 pips to close at 1.0676! Cowabunga baby! Read more…

New Zealand Dollar (NZD)

Boom! The Kiwi was simply explosive yesterday as improved risk appetite launched it further up the charts. NZD/USD rose 126 pips, recording its biggest rise in over three months. What’s in store for the Kiwi today? Read more…

Swiss Franc (CHF)

Risk appetite hit the Swiss franc, and boy did it hit it hard! The safe haven currency was no match to its counterparts as it was bogged down by a strong swing in risk sentiment. USD/CHF climbed 28 pips on the day, while EUR/CHF staged a 97-pip rally. 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!