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
NFP report expected to print at 115,000
Will the BOJ introduce more stimulus?
Draghi shows optimism on the OMT program
U.S. Dollar (USD)
Ka-boooom!!! Obama wasn't the only one who received thumbs down yesterday as the Greenback also tanked against its counterparts. EUR/USD shot up by 116 pips while USD/CHF plunged by 82 pips. What the heck happened to the scrilla? Read more...
Euro (EUR)
Even though several market watchers expected the ECB decision to be bearish for the euro, EUR/USD and EUR/JPY proved them wrong as both pairs caught some solid gains yesterday. EUR/USD broke above the 1.2950 minor psychological resistance and closed at 1.3019 while EUR/JPY landed above 102.00. Read more...
British Pound (GBP)
Out of the way! Pound bulls charging through! GBP/USD finished the day 119 pips above its opening price at 1.6191. Meanwhile, GBP/JPY was up 81 pips at 127.01 by the end of the New York session. Read more...
Japanese Yen (JPY)
Score another one for the BOJ! Thanks to risk appetite in the markets, the yen clocked in another losing day against its major counterparts. Though it inched 7 pips higher against the low-yielding dollar, it lost 81 pips on both the euro and the pound. Read more...
Canadian Dollar (CAD)
Way to go, Loonie! The Canadian currency cashed in some gains against the Greenback yesterday as USD/CAD dipped back to the .9800 handle. At the end of the day, the Loonie was able to outpace the Greenback by 75 pips as USD/CAD closed at .9805. Read more...
Australian Dollar (AUD)
Finally, a breather! Thanks to risk appetite in the markets, the Aussie traders were able to shrug off the mixed economic reports from Australia. AUD/USD dropped to an intraday low of 1.0182 before it closed 39 pips higher than its open price. Phew! Read more...
New Zealand Dollar (NZD)
Fly Kiwi, fly! That's exactly what the comdoll did in yesterday's trading as risk appetite dominated market sentiment. NZD/USD opened at .8183 and rallied to close at .8218.
Swiss Franc (CHF)
At long last! After getting rejected at the support level around .9350 multiple times, the Swiss franc was finally able to rally past the minor psychological handle in yesterday's trading. In fact, USD/CHF closed the day at .9305 after opening at .9387. 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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