What’s on the Economic Horizon
BOJ set to rock markets with monetary policy statement
GfK German consumer climate index to stay at 5.9
KOF economic barometer on deck
U.S. advance GDP expected to show 2.6% expansion
U.S. Dollar (USD)
Even though the Fed left the door open for QE3 in its FOMC statement on Wednesday, the dollar was able to limit its losses against its major counterparts. It lost 18 pips to the euro and 22 pips to the pound, while giving up 39 pips to the yen. Will today’s GDP report help it recover? Read more…
Euro (EUR)
Boy, does the euro know how to be sneaky! Despite the lack of economic reports, it tapped a new high against the dollar for the week yesterday at 1.3264. By the day’s close, EUR/USD was up 18 pips from its opening price at 1.3238. Read more…
British Pound (GBP)
It’s not only Bayern Munich that’s going to go on a victory party this weekend but Cable as well! Once again, Cable was able to post a winning day, thanks to improved market confidence. Cable, which had started the day at 1.6171, found itself at 1.6193 by the end of the U.S. trading session. Read more…
Japanese Yen (JPY)
Surprise, surprise! The yen was actually one of yesterday’s strongest performers! It swept the euro, pound, and dollar, as rumors went around that BOJ Governor Shirakawa may not be as supportive of a loose monetary policy as we think. How will the yen react to today’s much-anticipated monetary policy statement? Read more…
Canadian Dollar (CAD)
The Loonie hustled during the Tokyo session yesterday as USD/CAD rallied to its 7-month low at .9806. But come the London session, where did all ’em Loonie bulls go? The pair traded higher, paring its downward move earlier on in the day to close 5 pips above its opening price at .9840. Read more…
Australian Dollar (AUD)
The Aussie made headway on the charts yesterday, as the Greenback continued to weaken across the boards. Even though it didn’t have any solid reports to back its rally, AUD/USD was able to extend its climb by another 37 pips, ending the day at 1.0392. Read more…
New Zealand Dollar (NZD)
The Kiwi moved in two distinct waves yesterday. The currency started the day weakly but once the European trading session began, the pair was able to recover its losses and end the day with a small 9-pip victory. Read more…
Swiss Franc (CHF)
The Swissy was able to come out victorious in yesterday’s trading session again thanks to left over optimism from the FOMC statement. USD/CHF closed the U.S. trading session at .9089, down from its opening price at .9112. 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!
