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
Fed Launches Open-Ended QE
SNB Keeps EUR/CHF Peg Steady
U.S. Dollar (USD)
The dollar sank down the charts like the Titanic following Fed Chairman Ben Bernanke's statement. It gave up 98 pips to the euro, 85 pips to the Aussie, and 33 pips to the yen. Read more...
Euro (EUR)
Will EUR/USD hit the 1.3000 mark soon? The Fed's QE3 announcement yesterday triggered another sharp rally for EUR/USD as the pair jumped above the 1.2900 handle. EUR/JPY also had its fair share of gains as it made a solid break above the 100.00 mark. Read more...
British Pound (GBP)
Due to the Federal Reserve's QE3 announcement, the pound was able to jump to a fresh 4-month high versus the safe haven dollar. As of this writing, the pound is sitting at 1.6150 against the dollar, which is a very respectable 75 pips higher from its lowest point yesterday. Read more...
Japanese Yen (JPY)
That's a 7-month high, baby! The yen rallied to 77.13 following the FOMC statement against the dollar in yesterday's trading. By the end of the New York session, USD/JPY had settled at 77.53, 33 pips below its opening price. Read more...
Canadian Dollar (CAD)
And just like that, USD/CAD makes a new yearly low! The pair broke down from consolidation after the Fed announcement yesterday and dipped below the .9700 major psychological level. What the heck happened? Read more...
Australian Dollar (AUD)
Just like the other higher-yielding currencies, the Aussie kicked the dollar's behind in yesterday's trading as risk appetite picked up. AUD/USD closed 45 pips above its opening price at 1.0542 following the very dovish FOMC statement. Read more...
New Zealand Dollar (NZD)
You didn't think NZD/USD would stop rising, did yo? Thanks to the Fed's QE3 announcement, NZD/USD was able to strongly push above the .8300 handle yesterday. This enabled the pair to mark its highest level since March. Read more...
Swiss Franc (CHF)
The Fed's QE3 program triggered a wide-reaching case of dollar weakness, which the Swiss franc thoroughly enjoyed. USD/CHF, which had begun the day at .9379, closed the U.S. trading session 31 pips lower at .9379. 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 - January 12, 2012 21:11 11 January 2012
- Daily Forex Fundamentals - March 18, 2013 22:28 17 March 2013
