What’s on the Economic Horizon
Mixed U.S. Employment Report
RBA Expected to Keep Rates Steady
Euro zone Sentix Investor Confidence Index Due Today
U.S. Dollar (USD)
The dollar got sent to the bear lair of its higher-yielding counterparts on Friday following the mixed employment report from the U.S. EUR/USD finished the day at 1.2384 after opening at 1.2183 while GBP/USD ended Friday 132 pips above its opening price at 1.5641. Read more…
Euro (EUR)
After days of disappointing data and unimpressive central bank interest rate decisions, the euro was given some relief as the week came to a close. The shared currency rallied strongly last Friday as the non-farm payrolls shattered market expectations. EUR/USD, which began the day at 1.2180, closed the U.S. trading session 201 pips higher 1.2381. Read more…
British Pound (GBP)
Weak economic data? No problem! The pound took a breather from its losses last Friday when it gained 133 pips on the Greenback and 160 pips on the yen. The question is, can the pound bulls sustain the rally? Read more…
Japanese Yen (JPY)
The yen wasn’t able to tap its inner pip-ninja on Friday as risk appetite picked up. USD/JPY finished the week at 78.43 after starting the day at 78.19. Meanwhile, EUR/JPY was up 189 pips at 97.15 by the New York session close. Read more…
Canadian Dollar (CAD)
Thar she blows! The Loonie emerged victorious against the safe haven Greenback last Friday as risk appetite managed to make its way back into the markets. USD/CAD started the Asian trading session 1.0073, dipped below parity at .9980, and then closed the day at 1.0019. Read more…
Australian Dollar (AUD)
Cowabunga! The Aussie continued its cruise up the charts as it extended its gains against the dollar on Friday. After opening the day at 1.0465, AUD/USD finished the week at 1.0564. Read more…
New Zealand Dollar (NZD)
Wham, bam, thank you NFP! Okay, that didn’t rhyme. But the Kiwi bulls are thanking the NFP anyway! NZD/USD broke above the consolidation on the daily chart last Friday when it climbed by 94 pips to .8187. Who’s the small player now, huh? Read more…
Swiss Franc (CHF)
Kaboom! The franc came up on top of its fellow low-yielding currencies last Friday as traders sought high-yielding currencies like the euro and the Aussie. USD/CHF plunged by 155 pips to .9707 after hitting an intraday high at .9874. That’s NFP Friday for you, folks! Read more…
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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!
