Daily Forex Fundamentals – September 26, 2011

What’s on the Economic Horizon

U.S. New Home Sales on Deck
German Ifo Business Climate to Fall to 107

U.S. Dollar (USD)

After a strong performance from Monday to Thursday, the Greenback finally decided to take a break and give others a chance to catch up last Friday. The U.S. dollar index, which tracks the performance of the Greenback versus other major currencies closed Friday at 78.65, 18 percentage points lower from its opening level during the Asian session. Read more…

Euro (EUR)

Did the euro bears run out of steam, or did we just experience a round of profit-taking? The euro took a breather from its heavy losses against its counterparts as the G20 meeting brought a glimmer of hope to the risk-averse traders. EUR/USD clocked in a 48-pip rise to 1.3523, while EUR/JPY climbed by 80 pips to 103.61. Read more…

British Pound (GBP)

Touchdown! Just like the Buffalo Bills’ surprising win over the New England Patriots, the pound pulled off an upset against the dollar during Friday’s trading too! GBP/USD traded higher on the last trading day of the week, closing 131 pips above the day open at 1.5489. Read more…

Japanese Yen (JPY)

The dollar’s strength proved to be too much for the yen last Friday as USD/JPY soared as high as 76.89. It appears that the pair found strength due to news reports saying that policymakers in Japan were going to firm in combating deflation by devaluing the yen and stimulating the domestic economy. Read more…

Canadian Dollar (CAD)

The Canadian dollar avoided another bloodbath against the Greenback last Friday when the G20 meeting eased market fears a bit. USD/CAD only went up by 22 pips to 1.0295 after it had climbed by as much as 216 pips on Thursday. Phew! Read more…

Australian Dollar (AUD)

While other major currencies managed to fight back and regain some of their losses, the Aussie remained in bear county as it marked a new 6-month low last Friday. AUD/USD had fallen as low as .9669 during the day before retracing its steps and closing week at .9768. t appears that concerns about global growth won’t fade away any time soon. Read more…

New Zealand Dollar (NZD)

Ouch! The Kiwi stood out like a sore thumb among the comdolls as it was the only currency among the clique that lost against the dollar on Friday. NZD/USD closed the week at .7733, 88 pips below where it opened on Friday’s trading. Read more…

Swiss Franc (CHF)

Aha, look who’s been sneaking pips! The Swissy managed to snatch wins against its major counterparts last Friday despite the lack of economic reports from Switzerland. EUR/CHF closed the day 23 pips below its opening price at 1.2209 while USD/CHF ended the day at .9078 after opening at .9029. 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!