Daily Forex Fundamentals – May 30, 2012

What’s on the Economic Horizon

Australia’s retail sales down by 0.2% in April
U.S. pending home sales expected to print flat in April
Italian bond auctions and Draghi’s speech due today

U.S. Dollar (USD)

The dollar bulls are back in business! Thanks to risk aversion in markets, Greenback traders mostly ignored mixed economic data from the U.S. Instead, they boosted the safe-haven higher against its major counterparts. Read on to get the details! Read more…

Euro (EUR)

Pain from Spain! That’s exactly what the euro got yesterday, as it got battered by its major counterparts after a credit rating agency downgraded Spanish debt. EUR/USD slipped below the 1.2500 handle and closed at 1.2499 while EUR/JPY dipped to the 99.00 level. Read more…

British Pound (GBP)

Talk about dropping the ball! The pound held its own quite well against the dollar and the yen during the Tokyo and London sessions, but late in the New York session, it fell to pieces! GBP/USD slipped from the DO to end the day 49 pips lower at 1.5635, while GBP/JPY slid 34 pips to 124.33. Read more…

Japanese Yen (JPY)

With risk aversion dominating markets, who needs to look at Japan’s economic data? The yen roundhouse-kicked its counterparts down the charts again as concerns in the euro zone heated up. When will the yen’s supremacy end? Read more…

Canadian Dollar (CAD)

“Save yo drama for yo mama!” yelled the Loonie yesterday as it got dragged down by euro zone debt concerns but managed to recoup its losses by the end of the day. The Canadian currency even ended positive against the Greenback, with USD/CAD closing 10 pips below its 1.0240 open price. Read more…

Australian Dollar (AUD)

It stops at two! Just when we thought that the Aussie bulls are aiming for strike three, AUD/USD took a breather from its gains yesterday. The pair only reached an intraday high of .9899 before risk aversion eventually dragged it to its .9841 closing price. Read more…

New Zealand Dollar (NZD)

Little by little, the Kiwi is chipping away at the Greenback’s recent gains! For the fourth straight day, it managed to end stronger against its American counterpart as NZD/USD finished 15 pips higher at .7623. Will it make it five in a row today? Read more…

Swiss Franc (CHF)

Not much action on Swissy pairs yesterday as USD/CHF and EUR/CHF hardly budged from their opening prices. While USD/CHF ended 25 pips higher at .9611, EUR/CHF slipped just 6 pips down to 1.2016. Will we finally see big moves today? 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!

  • Guest

    Amazing! Thanks