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
Chicago PMI to Bounce Back?
German Retail Sales Growth Seen at 0.4%
Canadian GDP on Tap
U.S. Dollar (USD)
With risk appetite running the markets, the dollar fell victim to its major counterparts, as the euro, pound, and yen all finished higher versus the scrilla. Can the Greenback make a comeback or will we see more dollar weakness? Read more...
Euro (EUR)
Now that's how you bust out of a losing streak! After 5 straight days of losses, the euro finally edged higher yesterday, as EUR/USD closed 1.2960, 58 pips above its opening price. Read more...
British Pound (GBP)
The pound may have had its way with the dollar, but it could only salvage a draw against the yen. After a full day of trading, GBP/USD ended 45 pips higher at 1.6077 while GBP/JPY finished virtually unchanged at 127.99. Read more...
Japanese Yen (JPY)
Apparently, when it comes to trick-or-treating, the Bank of Japan prefers the former! The BOJ disappointed the markets yesterday with its monetary policy moves, which caused the yen to spike up during the Tokyo session. Read more...
Canadian Dollar (CAD)
Yesterday marked a tiny victory for the Loonie, but after losing two days in a row, we'll take what we can get! USD/CAD traded as high as 1.0021 before it slipped back down below parity to end the day 15 pips lower at .9993. Read more...
Australian Dollar (AUD)
Surf's up, mate! The Aussie bulls were in control of AUD/USD, which led to the pair closing at 1.0388, up 34 pips on the day. Can the bulls continue to hang-ten or will we see a wipeout Wednesday? Read more...
New Zealand Dollar (NZD)
The Kiwi was able to erase a chunk of its losses from Monday as risk sentiment favored high-yielding currencies yesterday. NZD/USD traded as high as .8235 before it settled at .8206, up 16 pips on the day. Read more...
Swiss Franc (CHF)
The Swissy put the hurt on the dollar, but it just couldn't beat the euro. After battling the entire day, it managed to end 40 pips higher against the dollar, taking USD/CHF to .9326. On the other hand, all it could muster against the euro was a stalemate as EUR/CHF finished virtually unchanged at 1.2086. 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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