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
Jobless claims report prints at four-and-a-half-year low
Canadian trade balance on top forecasts
Japanese officials continue to jawbone
U.S. Dollar (USD)
Talk about having a terrible Thursday! The dollar scored losses against all of the major higher-yielders in yesterday's trading. But it wasn't all bad for the Greenback! After three consecutive losses against the yen, it finally scored a win. USD/JPY finished the day higher at 78.34 after opening at 78.15. Read more...
Euro (EUR)
Despite S&P's credit rating downgrade of Spain, the euro was still able to post some spectacular gains yesterday. After it had sold-off heavily during the Asian trading session, the shared currency staged a strong rally to close the day 28 pips higher at 1.2928. Read more...
British Pound (GBP)
Make that back to back, sire! Thanks to improved risk appetite, GBP/USD rose for the second straight day, as the pair climbed 35 pips to finish at 1.6046. Can the bulls make it three in row? Read more...
Japanese Yen (JPY)
Risk appetite once again proved to be the bane of the yen's existence. It failed to extend it's winning streak against the dollar to a fourth day when USD/JPY closed higher at 78.34 after opening at 78.15. Meanwhile, EUR/JPY finished the day 50 pips higher at 101.29. Read more...
Canadian Dollar (CAD)
Thanks to improved risk appetite, the Loonie was able to trim its losses yesterday. The currency rallied against the Greenback, closing the U.S. trading session with a respectable 19-pip victory. Read more...
Australian Dollar (AUD)
Aaah! There's nothing like positive data and risk appetite to get the Aussie surfing up the charts. AUD/USD finished the day higher at 1.0264 after opening at 1.0237.Read more...
New Zealand Dollar (NZD)
And the consolidation continues for the Kiwi! With no hard data to bust it out of consolidation mode, NZD/USD stuck within its average trading range and finished at .8174, just 8 pips above its opening price. Read more...
Swiss Franc (CHF)
Now that's how you run up the score! With the dollar taking a beating across the chart, the franc bulls were able to take complete advantage, helping push USD/CHF down to .9348, 35 pips below its opening price. 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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- Daily Forex Fundamentals - June 6, 2012 22:07 05 June 2012
- Daily Forex Fundamentals - February 23, 2012 21:37 22 February 2012
- Daily Forex Fundamentals - July 30, 2012 22:40 29 July 2012
