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
NY Fed President Dudley Scheduled to Speak Today
Will the BOJ Intervene?
U.K. Inflation Report on Tap
U.S. Dollar (USD)
The dollar's performance on the charts yesterday was as mixed as a bag of M&M's. It traded sideways against most of its counterparts, giving up pips to its European currencies but scoring wins against the comdolls and the yen. Read more...
Euro (EUR)
Will euro strength persist? For now, it seems that it will, as EUR/USD managed to remain above the 1.3100 handle yesterday. From EUR/USD's opening price of 1.3116, the pair traded horizontally the entire day to end the U.S. trading session barely changed at 1.3108. Read more...
British Pound (GBP)
Yo, Mr. Pound, take your place atop the currency rankings! The pound was the only major currency to outpace the dollar yesterday, as GBP/USD closed 25 pips higher at 1.6245. Will we see a repeat performance today? Read more...
Japanese Yen (JPY)
Talk about starting off on the wrong foot! The yen scored losses across the board in yesterday's trading. USD/JPY ended the day 38 pips higher at 78.75 while EUR/JPY was up 42 pips at 103.22 by the New York session close. Read more...
Canadian Dollar (CAD)
Ah, do you taste that? It's the sweet taste of victory! For the second straight day, the Loonie bears were able to pummel the bulls to the ground. From its opening price at .9706, the bears took USD/CAD higher to .9748. Read more...
Australian Dollar (AUD)
Ouch! Just like its comdoll counterparts, the Aussie dropped like it's hot in yesterday's trading. AUD/USD traded lower after opening at 1.0551, ending the day at 1.0474. Read more...
New Zealand Dollar (NZD)
Just like its comdoll siblings, the New Zealand dollar fell victim to the Greenback yesterday. NZD/USD hit a low at .8250 before finally settling at .8261, down 19 pips from its opening price. Read more...
Swiss Franc (CHF)
With no big data on tap, USD/CHF pretty much stuck within range and consolidated yesterday. USD/CHF closed at .9280, just 3 pips above 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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