Daily Forex Fundamentals – October 25, 2011

What’s on the Economic Horizon

Canada to release retail sales report and BOC rate statement
U.K.’s current account and mortgage approvals reports on tap
China’s PMI boosted comdoll trading

U.S. Dollar (USD)

When traders are hungry for risk, then you know that the dollar bears are making their pips! No thanks to prolonged risk appetite in markets, the dollar continued to post losses against its major counterparts. EUR/USD climbed by another Read more…

Euro (EUR)

So near yet so far! EUR/USD edged even closer to the 1.4000 major psychological level, as it chalked up another day in gains and reached a high of 1.3957. EUR/JPY also ended the day on a positive note as it Read more…

British Pound (GBP)

The pound was slightly stronger across the board yesterday as the market’s mood was uplifted by positive Chinese data, optimism with regard to the upcoming EU meeting, and the possibility of another round of QE from the Fed. Cable, which began the day at 1.5931, ended the U.S. trading session at Read more…

Japanese Yen (JPY)

The yen’s price action yesterday was as mixed as Robopip’s multi-colored buttons as the lack of reports from Japan made the yen vulnerable to speculations. USD/JPY flirted closer to the major technical support level at 76.00, but EUR/JPY inched 35 pips higher at Read more…

Canadian Dollar (CAD)

The Loonie locked in a 3-day winning streak against the Greenback as USD/CAD closed just 30 pips above parity yesterday. This marked a 67-pip drop from its 1.0097 open price. With several big events on Canada’s schedule today, can the Loonie Read more…

Australian Dollar (AUD)

Somebody call Happy Pip because the comdoll bulls are out in the streets partyin’! Just like its other comdoll buddies, the Aussie gained for another day against the dollar on positive risk sentiment in the markets. AUD/USD flew by another Read more…

New Zealand Dollar (NZD)

Once again, thanks to the market’s appetite for risk, the Kiwi was able to stage a magnificent rally yesterday. NZD/USD, for instance, rose t o.8071 from .8021, and marked its third straight day of winning. It looks like market participants are getting very optimistic that Read more…

Swiss Franc (CHF)

The Swissy’s price action yesterday was as mixed as a bag of nuts as it gained versus the dollar but lost against the euro. By the end of the U.S. trading session, USD/CHF was 38 pips lower while EUR/CHFRead 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!

  • Harsimran

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